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BUZZ-Upstart makes good first impression; Wish IPO surprisingly disappoints

Wed 16th December, 2020 7:14pm
** AI lending platform Upstart Holdings Inc  UPST.O  pleases
investors in its debut on Weds, while e-commerce firm
ContextLogic Inc  WISH.O , which does business as Wish, is a
rare IPO disappointment
    ** UPST opens at $26 after $240 mln IPO prices at $20. Stock
last up 24.6% at $24.91*:nL4N2IW3KY
    ** But WISH has yet to trade at its $24 IPO price and is
recently down 12.6% at $20.99, even after $1.1 bln deal prices
at top of $22-$24 range*:nL4N2IW3FE
    ** Meanwhile, cancer drug developer BioAtla  BCAB.O  adheres
to the 2020 IPO script and soars >70% in its market debut*:nL4N2IW3FG
    ** And this as home rental firm Airbnb  ABNB.O  and food
delivery app DoorDash  DASH.N  stem several sessions of losses
since their blockbuster debuts last week
    ** On Weds, ABNB rises 11.8% to $139.56 vs its $68 IPO
price; DASH adds 1.6% to $161.38 and is now ~60% above its $102
IPO price
    ** Per Reuters analysis, the avg return for this year's crop
of some 206 IPOs is just north of 71%, with almost 60 having at
least doubled
     ** The analysis does not include SPAC (special purpose
acquisition companies) IPOs or direct stock listings of data
analytics firm Palantir Technologies  PLTR.N  or work management
platform Asana Inc  ASAN.N 
    ** PLTR and ASAN are up ~257% and `38%, respectively, from
their Sept 30 reference prices

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
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