The 4 IPOs That Have More Than Doubled in 2019

We’ve seen a lot of prolific debutantes crash and burn this year, but some IPOs are more than rewarding its early investors.

Let’s go over why these four rookies are so hot. Let’s also size up their chances of continuing to post wealth-altering returns in the near future…

Shares of Zoom Video (NASDAQ:ZM)ShockWave Medical(NASDAQ:SWAV)Jumia (NYSE:JMIA), and PagerDuty (NYSE:PD) have all more than doubled in 2019.

ShockWave Medical — Up 173%

Heart disease is the leading cause of death in this country, claiming more than 600,000 people a year. ShockWave Medical is hoping to change that with its intravascular lithotripsy platform that basically generates sonic waves in order to break up calcium deposits building up in arteries. ShockWave is now tackling peripheral artery disease, but the eyes on the prize here are the bigger markets for coronary artery disease and aortic stenosis.

These are the early innings for ShockWave. It generated just $12.3 million in revenue last year, naturally sporting a deficit that is several times that amount. Revenue is expected to grow sharply after last year’s initial Food and Drug Administration (FDA) clearance and the rollout of its system in the U.S. and Europe, and analysts see ShockWave’s top line surpassing $250 million come 2023 — a 20-fold increase over five years. The risks are high here, but the payoff is even greater if ShockWave’s platform proves to be a game changer.

Jumia — Up 160%

There’s no shortage of hot e-commerce stocks, but Jumia stands out as a fast-growing platform in Africa. It’s the leading operator in the region and a major player at every step of the process with its marketplace, its logistics service, and its payment platform. Jumia has used its market-leadership position to offer everything from online-travel bookings to restaurant-delivery services.

Just a little more than a third of Africa’s population of roughly 1.2 billion has a reliable online connection, but there’s nothing wrong with betting on the inevitable migration process as the continent’s various economies develop to the point where more people can afford the devices to go online.

We’re pretty early here. Jumia began this year with just 4 million active customers and 81,000 active sellers on the platform. Revenue rose 39% in 2018 to hit $149.6 million, and that pace can accelerate in the coming years as consumers grow more comfortable with e-commerce. Losses are larger than revenue — like ShockWave Medical — and it will take years before the continent’s infrastructure gets to the point where Jumia can truly shine. There are also geopolitical risks in Africa, but it’s also easy to see the company’s potential if political and economic situations stabilize in the coming years.

Zoom Video — Up 117%

The third-biggest gainer among this year’s freshman class is a video star in the boardroom. Zoom Video has a…

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