Toast (NYSE: TOST) has been a public company for less than three years. The company priced its September 2021 initial public offering (IPO) at $40 a share, and the stock surged by more than 50% on its first day of trading.
But investors who held on have seen the share price fall well below that IPO price, selling at less than half that level. While hot IPOs often garner a lot of attention after the initial surge, investors should take a rational approach to the business and valuation.
Taking a step back from the initial excitement and subsequent decline, is Toast a buying opportunity at the current share price?
Source Fool.com