The company started out vending cloud-based software to restaurants around the country, assisting them with digital point-of-sale (POS) systems and delivery apps. What Is Toast?įor all the talk you hear about restaurants, Toast is fundamentally a technology company based in Massachusetts. Let's find out more about what this company does before buying, though. Now that the company is both in control and in demand, this was a timely IPO. Today, Toast serves more than 48,000 restaurant locations, up from 27,000 in 2019. This is a fast-growing company that's seen a lot of early buying. But mostly, restaurants just needed help transitioning to more touchless delivery and drive-thru formats. Part of the rally involved cutting its workforce in half, showing management's ability to think fast. But they swiftly rallied to normal once demand for the technology became apparent. The company's sales crashed 80% at first in 2020. It's already demonstrated it can make it in a pandemic. This unicorn startup is known for selling technology to restaurants. The IPO price beat the top of its expected range of $34 to $36. The current value is up from $8 billion in 2020, so it's more than doubled. ![]() The Toast IPO sold shares at $40 and valued the company at $20 billion. We'll tell you how to play this one.įirst, here's a little on the IPO that just happened. This spells excitement for Toast stock - but it does not mean the stock is a buy right away.Įxciting IPOs tend to have an unreasonable bump in their first days of trading. Many believe this company will continue thriving, as restaurants suddenly don't want to abandon their drive-thru-only business models. And the industry flocked to Toast, which would then give them the touch-free and delivery tech solutions to stay alive. Restaurants needed safe solutions for selling food during lockdowns, fast. ![]() (NYSE: TOST) had the restaurant industry hostage early in the pandemic. You can find it under the Toast stock ticker "TOST." ![]() Toast stock now trades on the New York Stock Exchange. Save my name, email, and website in this browser for the next time I comment. Sign me up for the Money Morning newsletter Your email address will not be published. Or to contact Money Morning Customer Service, click here. Comment on This Story Click here to cancel reply.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |