My Top Tech IPO to Buy in March
2020 was fast and furious for IPO stocks, and 2021 is getting off to a similar start. Technology is transforming the economy at a record pace, and many of these businesses are far more profitable than the old incumbents they're replacing.
Of all the IPOs and SPACs that have debuted in the last six months, though, I think Unity Software (NYSE: U) is the one to focus on for the long haul. Here's why I think it's a buy in March.
Unity already reported a solid finish to 2020 -- its first year as a public concern. Revenue increased 43% from 2019 to $772.4 million, and free cash flow was negative $20.2 million (although it turned free-cash-flow positive in the fourth quarter, generating $3.6 million). However, this is a growth company through and through. Unity no longer needing to use cash from its balance sheet is an important milestone, but the trajectory of its expansion is of utmost concern in this chapter of its story.
Source Fool.com
