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Should You Buy This Hot IPO Now?

TheMotleyFool

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Many hot initial public offerings (IPOs) over the past few years have jumped immensely on their opening days, and the newly public company Expensify (NASDAQ: EXFY) is no exception. Shares were priced at $27 ahead of its market debut Nov. 10, and it proceeded to surpass $41 -- a 52% jump.

This expense management software tool has something many IPOs in 2021 and 2020 don't have: profits. Does that mean you should put this company on your watch list?

Image source: Getty Images

Source Fool.com

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