Prior to launching an IPO a company may be held entirely by its founders or by a combination of firm principals and private shareholders. At this point the firm entirely controls its ownership structure. If it has shares, the firm's principals can restrict those shares to purchasers or investors of their choosing.
Tesla continues to skyrocket, surging to a new record high of almost $800 per share on Monday thanks to a fourth quarter earnings report last week that topped expectations and a host of Wall Street analysts recently predicting further upside for the stock.
Shares of the company were trading at $23 before the bell and were set to open at more than one and a half year high.
We expect that CartaX, our private trading venue, will launch in 2020, pending regulatory approval. Private venture backed companies will list on CartaX so their shares can trade. Investors will want to buy and sell those shares. The problem is how do investors learn about the companies on CartaX and which ones to buy and sell?
Today, on Twist’s quarterly earnings call, the company also reported that its revenue increased 49.3% year-over-year to $17.2 million. Twist forecast revenue exceeding $80 million for 2020. On Thursday morning, shares of Twist Bioscience (NASDAQ: TWST) were trading at just below $27. By Friday afternoon, they were just above $32 a share, a rise of more than 18%, bringing its market capitalization to $1.1 billion.