ServiceTitan, which offers financial and customer management software for the trades, went public in a big way on Thursday, much to the delight of retail investors. The stock quickly popped from its opening IPO sales price of $71 to $105 a share in modest trading volume. It is currently maintaining an above-$100 price.
ServiceTitan’s success does not necessarily portend the reopening of a painfully tight IPO window for tech companies waiting in the wing to go public. That’s because its motive to go public wasn’t strictly market related.
But retail investors driving up share price on day one is an exciting omen all the same. Some are reacting with excitement that thirst for this stock could portend more IPOs to come soon. Others say it bodes particularly well for any fintech companies who have been waiting in the wings for their chance.
“We expect ServiceTitan’s debut to be an encouraging indicator that could inspire other fintech players in the extensive fintech IPO pipeline to follow suit,” said PitchBook senior emerging technology analyst Rudy Yang.
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