PLAN - Doubling Just One Year After Its IPO Anaplan Is Still a Great Stock
Wall Street has turned against many recent IPOs in the second half of this year. Inflated valuations, cash-burning operations, and fears of a recession have led many investors to think twice before buying small, high-growth technology stocks.
But not so with Anaplan (NYSE: PLAN). The company's unique "connected planning" software is powering impressive results, and one year after its public debut, shares are sporting a 120% return from their first day close (and a nearly 220% return from the initial offering price). The hot streak continued in the fiscal 2020 third quarter (three months ended Oct. 31, 2019), and though this isn't a stock for the thriftiest of investors, it's one worth keeping an eye on.
Image source: Getty Images.