By Kuldip K. Ambastha
In this past week, both Asana, Inc. (ASAN) and Palantir Technologies Inc. (PLTR) went public through the direct listing of shares which had been privately held in the past. On Wednesday, September 30, 2020, Asana opened at $27.00 per share while Palantir opened at $10.00 per share. By the end of the trading week on Friday, October 2, 2020, Asana closed at $25.91 per share while Palantir closed at $9.20 per share. Asana is a workplace collaboration and planning software company, while Palantir is a data analytics company.
Based on historical data related to privately held and privately traded shares of both companies before the direct listings, the New York Stock Exchange (NYSE) had expected reference prices of $21.00 per share for Asana and $7.25 per share for Palantir. In general per what research on liquidity shows, publicly traded shares are expected to trade higher than the reference prices. Over the long run, it will be interesting to see if the publicly traded shares of both companies continue to trade higher than the reference prices.
Keywords – Asana, Inc., Asana, ASAN, Palantir Technologies Inc., Palantir Technologies, Palantir, PLTR, technology, tech, New York Stock Exchange, NYSE.
Disclosure – The principals and clients of Ambastha Financial LLC do not have any position in ASAN and PLTR.
Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2020 – Ambastha Financial LLC.