11-12-2019, 04:07 PM
(11-12-2019, 03:57 PM)stockguru Wrote: Wow the IPO market has been horrible the last 6 months. I know some of you bought a few names like CHWY, LYFT and UBER.
My question is do you still own the names and are you buying more?
None of these companies make a profit and haven't since they have been in business. Its a risky bet to own these names. No?
Comments.....
Of those three, I have a small starter position in CHWY, based solely on the endless stream of Chewy boxes that arrive at our doorstep. It is unsurprisingly in the red, given that the stock is near all-time lows since IPO. Credit Suisse upgraded them yesterday with a $29 price target, and projects that they will be profitable by 2022.
Pet supplies are pretty recession-resistant (was a growth sector even during the Great Recession). The company also has pretty loyal clientele. We'll see if the business can get profitable.