Airbnb and DoorDash IPO, While Gene Editing Companies and SPACs Continue to Build Excitement
December 11, 2020
DoorDash and Airbnb have been a hot topic as of late, with both going public in back-to-back IPOs. $ABNB more than doubled in its market debut, rising over 112%. $DASH ended up rising over 85% in its first day of trading, going from its $102 starting share price to $189 by the end of the day. Both companies are now just short of hitting a $100 billion market cap valuation.
Shares of genetic editing companies Sangamo and Editas Medicine jumped today, adding to impressive runs for these genomic companies. This year has brought gene therapy and gene editing tools like CRISPR to the mainstream on markets. Both companies have been on the Rippers list before due to excitement around the technology. Shares of $SGMO rose over 52% after the company announced consolidated results from their early-stage Hemophilia A trial. $EDIT rose over 32% after the company said they submitted a request to the FDA to start a trial in sickle cell disease.
Silver Spike Acquisition Corp. is seeing green today after an announcement of a merger with WeedMaps. The deal values WeedMaps, an online platform for marijuana businesses and customers, at over $1.5 billion. SPACs, a novel way of taking companies public, have continued to capture the economy of attention on the street. $SSPK is up over 37% since the announcement.