IBTA - Ibotta: New IPO With Strong Growth

2024-04-19 10:00:28 ET

Summary

• Ibotta had a successful trading debut, with shares trading up sharply and closing at over $103 per share.
• The company raised around $200 million in its IPO, despite the overall size being $600 million.
• Ibotta is a profitable digital marketing company that allows consumer packaged goods companies to deliver digital promotions to consumers.

Article Thesis

Ibotta, Inc. ( IBTA ) traded up sharply on its first day. The tech company has a business model with growth potential, has been generating strong growth in the recent past, and unlike many other young tech companies, Ibotta is profitable already. Nevertheless, investors should consider the stock's valuation before making an investment decision - Ibotta isn't cheap....

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