Shares Of DoorDash, C3.ai and PubMatic Skyrocketted On IPO

On Wednesday, DoorDash, C3.ai and PubMatic marked their IPOs on the Wall Street, awaiting the biggest session of the year that of Airbnb, which is expected to start listing on Thursday. According to the Wall Street Journal, Airbnb’s IPO price is expected after the close on Wednesday and is expected to be above the estimated range, valuing the seasonal rental site at around $42 billion. The range was increased from $50 to $56-$60 per share.

After being launched at $102 per share, DoorDash Inc (DASH) soared 85.8 percent to $189.51, a price that was significantly higher than the indicative range ($90-95, up from $75-85). Through selling 33 million shares, the U.S. pioneer in meal delivery (before Uber Eats) was able to collect $3.37 billion. DoorDash is estimated at no less than $57 billion at the present price, three and a half times the valuation of $16 billion made at its last private fundraiser last June.

On a smaller scale, the second IPO of the day, C3.ai Inc (AI), a start-up of artificial intelligence applications, soared 120 percent to $92.49 after breaking into $42 per share, way above the price range. This had already been increased to $36-38 from $31-34 originally scheduled. C3.ai has now more than doubled its valuation, which now reaches $9 billion, at current prices, and raised $650 million during its IPO.

Finally, on Wednesday, Pubmatic Inc. (PUBM), an online advertising player, was also launched at a price of $20 per share which jumped 37.2 percent to $29.45 at the close. For its IPO, the group raised $118 million.

JP Morgan Chase & Co (JPM) fell -0.78 percent to $121.05 on the day. Next year the U.S. bank’s spending is expected to reach $67 billion, marginally higher than the predictions of analysts, due to heavy investment, its CEO, Jamie Dimon, told an investor conference on Tuesday.

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