My Top Tech IPO to Buy in December
The technology sector of the stock market went bananas in 2020 and 2021. With the prevalence of special purpose acquisition vehicles (SPACs) and traditional initial public offerings (IPOs), there was a record number of new listings (estimated to be over 1,000) across the U.S. stock market last calendar year. In 2022, this excitement has taken a complete 180-degree turn with very few stocks going public over the last few quarters amid geopolitical tensions and falling share prices.
Many IPOs from 2021 are down big in 2022, presenting a buying opportunity for long-term investors. Here's why Remitly (NASDAQ: RELY), a stock that went public in late 2021, is my top technology IPO to buy in December.
Remitly is a financial services provider for immigrants and their families. More specifically, it offers international money transfers (called remittances) through its mobile application so immigrants can easily send money back to their home countries. For example, one of the most popular routes is from the United States to Mexico for migrant workers.
Source Fool.com
