One of the most popular and widely-used websites known as NerdWallet, has just made its debut as in IPO in the stock market this morning. Founded in 2009, this site has been a favorite of mine to keep track of my personal finance journey with its vast arsenal of tools. Credit monitor, a net worth tracker, even an income and expense tracker that categorizes spending habits. With its automated tools and tips to keep users aware of their cash flow, it's no wonder this IPO soared this morning upon market open.
Initially priced at $18 (Expected per share range was $17-$19), at the time of writing this stock is now up to $28.91, with highs at around $33.68 mid-morning. I did not expect any less from a company like NerdWallet. What amazes me most is the company initially expected a $1.2 billion valuation with its finalized price, and due to the massive growth of investor appeal, actually surged to more than a $2billion valuation having sold around 7.25 million shares.
The fact that a simple start-up company that began its humble beginning specializing in money management and credit/wealth-building, rose to generating a nearly $5million net income in 2020 is surreal. This is something people have been doing on their own throughout their lives, and for some spark of genius, founders Tim Chen and Jake Gibson capitalized on that concept and built an empire out of it.
Amazing. Revolutionary. Why didn't I think of that.
Answering my own question, I didn't really care about all of this personal finance stuff in 2009. I was too busy looking for the next Nike sneaker to drop. Stupid me.
Nevertheless, when news of this IPO making its way onto the market came about, you can be sure I was on that boat to represent my passion for personal finance and the NerdWallet company as a whole. While I wasn't able to receive that initial $18 share price, I did manage to open a few positions at around $28.86 this morning. In my opinion, this was an absolute steal. I'm not saying that $NRDS is the next Amazon or Google, but I will guarantee that the idea of optimizing personal finance being an important concept in our daily lives will remain. Coupled with the internet's growing technological algorithms for recognizing methods for maximizing financial efficiency, this stock (as well as other personal finance stocks in the future) have a great outlook for success.
If you haven't already given NerdWallet a try, you should. Typically, I have other applications that track my credit scores like Credit Karma, and use dedicated-budgeting apps like EveryDollar and YNAB, but the idea of having all of these like-tools in a one-stop shop like NerdWallet is pure genius.
For more information on NerdWallet and its surge in today's market, feel free to read the following article below, or go straight to their website at www.nerdwallet.com and take a poke around for yourself.
Thanks for reading, NRDS
*Quick disclaimer - I do not claim to be a financial advisor, nor do I recommend purchasing any of this or future stock/assets. These are all opinionated observations and should be judged and evaluated with your own due diligence. Like every other purchase you make, do your research and justifications to validate your transactions.