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There are no repeats on our latest list of new IPO* movers of the week, but there are a number of familiar faces from weeks past.
Veritone Inc. (Nasdaq: VERI) soared above the rest of the pack, just as it did during the week of Aug. 21-25. It followed up that earlier 75.6% gain with a 50.1% gain last week. After going public in May at $15 per share, VERI fell to about half that in August. But a feature by Barron's on Aug. 18 has put it on a nearly uninterrupted climb. Shares closed the week at $30.07.
GDS Holdings Ltd. (Nasdaq: GDS) made multiple appearances on the movers list in July. Now the Chinese tech company returns with an 18.4% gain last week. GDS is now up 28% on the year and nearly 55% since June 9. GDS received a fair amount of attention when it went public last November at a share price of $10. But it suffers from the fact that, unlike its American competitors in digital real estate, it is not technically a real estate investment trust (REIT) and doesn't distribute a dividend. Shares closed the week at $11.34.
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ADOMANI Inc. (Nasdaq: ADOM) made the movers list for three straight weeks in August. Now it tops our losers from last week, with a hefty 45.6% drop. The Newport Beach-based company converts school buses and other transportation fleets into zero-emission electric and hybrid vehicles. ADOM has been on a roller coaster ride ever since it went public in June at $5. The stock climbed as high as $17.15 in July, before dropping to $6.39 the following month. Shares closed last week at $7.
Aileron Therapeutics Inc. (Nasdaq: ALRN) has also seen some big swings since its IPO. It went public in late June at $15, then dropped immediately below $11. It has twice climbed near or above $14 before falling back down, and it fell 18.4% last week to close Friday at $11.42. Aileron's lead drug candidate is still in early stage clinical trials, so this a largely speculative play for now.
*Stocks are listed on a U.S. exchange with an initial public offering in the last year. Data and analytics provided by FactSet.
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About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.