New IPO Movers of the Week

New IPO Movers

Our latest list of new IPO* movers of the week includes some familiar faces, and therefore some of the most volatile stocks on Wall Street right now.

Veritone Inc. (Nasdaq: VERI) leads the winners list for the third time in the last five weeks. And the gains each time have been head-and-shoulders above the rest of the competition. After gaining 75.6% in one week in late August and 50.1% the week before last, Veritone led last week's pack with an 87.2% jump. The stock, which went public in May at $15, is now up more than 600% since a feature by Barron's on Aug. 18. On Wednesday, the company's artificial intelligence platform, aiWARE for Xcellis, won a NewBay Best of Show Award at IBC2017, propelling the stock even higher. VERI shares closed the week at $56.28.

After a three-week run in August, ADOMANI Inc. (Nasdaq: ADOM) is on the movers list for the second straight week in September. It gained 16.9%, recovering a portion of its 45.6% drop from the week before. 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 $8.18.

BREAKING: New Legislation Could Turn Tiny Pot Stocks into Millions. Click Here...

Tintri Inc. (Nasdaq: TNTR) led the losers with a 29.6% drop, just as it did two weeks earlier. The cloud services provider is under investigation for possible securities fraud after a disappointing quarterly report released Sept. 7. Plaintiffs have alleged that the company was not sufficiently forthright in the lead-up to its June 30 IPO, at which shares sold for $7. TNTR closed last week at $3.02.

Kala Pharmaceuticals Inc. (Nasdaq: KALA) dropped 18.1% for the week. The stock had been enjoying a steady ride upward since its July 20 IPO. Debuting at $15 per share, KALA climbed as high as $26.20 before last week's fall. There was no major news from the Massachusetts-based company, which specializes in the treatment of eye diseases. This sudden drop just illustrates how volatile new IPO stocks can be. Shares closed the week at $20.69.

*Stocks are listed on a U.S. exchange with an initial public offering in the last year. Data and analytics provided by FactSet.

Up Next: One gallon of this new "crystal fuel" could get you from New York to L.A. and back... seven times! Being hailed by many experts as energy's "Holy Grail," it's 1,693 times more powerful than the gasoline that runs your car. The mainstream investment media isn't even talking about it yet. Read more...

Follow Money Morning on FacebookTwitter, and LinkedIn.

[mmpazkzone name="end-story-hostage" network="9794" site="307044" id="138536" type="4"]

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.

Read full bio