SoFi Blog

Industry insights, IPO updates, and fun facts about some of the world’s favorite firms.

So far, you might describe 2019 as the year of the unicorn companies. These are startup companies valued over $1 billion, and many of them—like Lyft, Beyond Meat, and Zoom—are hitting the market for the first time. But what’s driving this current trend in IPOs, and will it continue?

Millennials come with a litany of perceptions. They’re sometimes stereotyped as lazy, not having or wanting jobs, and portrayed as bingeing on Netflix and probiotic drinks from the comfort of their parents’ basement.

With murky perceptions like this, it could be easy to believe that millennials aren’t interested in investing for their futures. Of course, this narrative is overly simplistic at best, and dead wrong at worst.

Many millennials have had to overcome major obstacles to homeownership that their parents didn’t have, such as college costs that are growing faster than wages and ever-mounting student loan balances .

For some, Uber’s initial public offering (IPO) has been a major disappointment so far. The ride-sharing company, which has disrupted the transportation industry, went public on May 10, 2019 and its stock price immediately began to fall. Here’s a look at what happened and some factors that may have caused Uber’s IPO tumble.

What Happened with Uber’s IPO?

On Thursday afternoon, Uber set its IPO price at $45 a share . At that price, the company had a projected value of $82.5 billion .

However, when the markets opened on Friday morning, the stock immediately began trading at 6.7% below the IPO price at $42 a share. By the end of trading, the stock was down 7.6% below , closing at $41.57. The company raised $8.1 billion in its IPO, which gave it an initial valuation of $76.5 billion .

The stock fared no better on its second day of trading. Prices slid another 11% , or $4.47, to end at $37.10, or 18% lower than the IPO price. And though the stock price had recovered a bit by the end of its third day of trading, closing at $39.96, that was still well below its opening share price on Friday.

First came SoFi’s fee-waived* ETFs, SoFi Select 500 ETF (ticker: SFY) and SoFi Next 500 ETF (ticker: SFYX), providing our members access to diversified US equity for only $10 per share.

Then came the SoFi Gig Economy ETF (ticker: GIGE), a first-of-its-kind thematic ETF focused on the companies revolutionizing how individuals live and work. SoFi is now excited to highlight the fourth ETF in our line-up: the SoFi 50 ETF (ticker: SFYF).

If you got a tax refund this year, you’re probably still giddy about the extra money. Who doesn’t love an unexpected windfall? Maybe you gave the federal government a little too much out of each paycheck last year. But what matters now is that you’ve got a tax refund in hand, and you want to be wise about how to use it.

If you have yet to decide what to do with your tax refund, it might be time to set some priorities. This is going to be relatively painless, and hopefully it will help you gain some clarity on the money issues that keep you up at night.

If debt is dragging you down, this could be an opportunity to pay off a credit card or two, or some other high-interest debt that’s been plaguing you. If your refund is anywhere close to the average—which was about $3,000 last year—you could potentially take a serious bite out of any balances you’re carrying.