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Airbnb stock gained over 40% in the last 12 months, but the market has an overly optimistic view of its potential to leverage AI.

Airbnb Faces Growth Hurdles Despite Strong Consumer Preference, Analysts Warn

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Uber Eats introduces TikTok-style videos, following trend popularized by Meta Platforms, Instagram, Alphabet, YouTube, Snapchat, Netflix, LinkedIn.

Uber Eats Embraces TikTok Wave with New Short-Form Video Discovery Tool

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Uber Technologies shares edge higher following its partnership with The Vitamin Shoppe and collaborations aimed at enhancing access to behavioral healthcare and expanding freight management in Europe.

What&#39;s Going On With Uber Technologies Shares Friday?

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Airbnb Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) shares are trading lower after Needham analyst Bernie McTernan <a href="https://www.benzinga.com/quote/ABNB/analyst-ratings" target="_blank" rel="noreferrer noopener">downgraded the stock</a> from Buy to Hold.
The market has an overly optimistic view of Airbnb&#8217;s potential to leverage artificial intelligence (AI) to disrupt the global online travel agency (OTA) industry, McTernan says. 
The analyst projected first-quarter revenue and EPS of $2.05 billion and $0.73.
Airbnb CEO Brian Chesky spoke on a February earnings call about expanding beyond the company&#8217;s core business.
McTernan inferred this as AI-enabled OTA, where consumers could book an entire trip, not just a short-term rental. This makes a lot of sense, as it leverages Airbnb&#8217;s scale. Consumers will likely come to the platform earlier in the booking journey. Plus, the emergence of generative AI can provide a differentiated product.
However, he also flagged that the shift is coming at a time when Airbnb growth is slowing and converging with Booking Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) and Expedia Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) after the pull-forward from the pandemic, which resulted in 2023 bookings that were nearly double 2019 levels. 
Despite the lower growth outlook, Airbnb trades at a premium to peers relative to growth. The market, he noted, is too bullish on the near-term potential for the AI OTA app.
Airbnb also faces potential challenges in generating the global scale necessary to impact estimates. There&#8217;s potential for price competition with incumbents and the need to unlock hotels that likely see Airbnb as an existential threat. 
Meanwhile, Benchmark analyst Daniel L. Kurnos initiated coverage on Airbnb with a Buy rating and a price target of $190.
Even as competition has increased in conjunction with growing awareness and adoption of alternative accommodations within the broader travel market, research shows that Airbnb has retained its number 1 position with consumers, hosts, and unaffiliated travel experts, as per the analyst.&nbsp;
He noted that a lot of the low-hanging share price fruit has been picked at current levels but still views Airbnb as a sound momentum play, with potentially material upside to fundamentals over the next 12-36 months through a combination of market expansion and existing market penetration gains, notable global events this year, including Euro 2024 and the Paris Olympics, growth in service fees, ranging from the previously announced cross-border fee to upcoming incremental service launches and the oft-discussed but still vague timing around a potential foray into advertising via sponsored listings.&nbsp;
The analyst projected first-quarter revenue and EPS of $2.06 billion and $0.17.
Airbnb stock gained over 40% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Global X PropTech ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTEC#NASDAQ">PTEC</a>) and&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>).
Price Action: ABNB shares traded lower by 0.95% at $158.76 on the last check Thursday.
Image: Shutterstock

Uber Technologies, Inc&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) Uber Eats is introducing a&nbsp;TikTok-style short-form video feature to enhance food discovery and enable restaurants to highlight their offerings more vividly.&nbsp;
This feature, which is currently undergoing testing in New York, San Francisco, and Toronto, represents Uber Eats&#8217; foray into the burgeoning realm of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37981584/linkedin-enters-short-form-video-battle-with-new-tiktok-style-feed-targets-professional-growth-conte" rel="noreferrer noopener">short-form video content</a>, aligning with a trend popularized by platforms like&nbsp;Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;Instagram,&nbsp;Alphabet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;YouTube,&nbsp;Snap Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)&nbsp;Snapchat,&nbsp;Netflix Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), and recently&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;LinkedIn.&nbsp;
The feature showcases videos in a swipeable format, visible in carousels throughout the app, including the home screen, TechCrunch&nbsp;<a target="_blank" href="https://techcrunch.com/2024/04/08/uber-eats-launches-tiktok-like-video-feed/" rel="noreferrer noopener">reports</a>.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/36980065/uber-technologies-clocks-strong-q4-performance-ceo-terms-it-profitable-growth-at-scale" rel="noreferrer noopener">Uber Technologies Clocks Strong Q4 Performance, CEO Terms It &#8216;Profitable Growth At Scale&#8217;</a>
These videos aim to give users a closer look at food preparation, textures, portion sizes, and dish compositions, ultimately boosting consumer confidence in trying new dishes.&nbsp;
Notably, the content is offered to users based on the proximity of the restaurants, ensuring relevance and delivery feasibility.
Uber Eats&#8217; approach differentiates from typical advertising; it doesn&#8217;t charge merchants for these video placements, offering a unique platform for restaurants to connect directly with potential customers.&nbsp;
This move is particularly significant as many restaurants leverage social media to attract new patrons and showcase their culinary creations.&nbsp;
Introducing this feature into the Uber Eats app aims to streamline the discovery process and encourage users to seek culinary inspiration within the app itself.
Uber Eats is also enhancing its support for merchants by revamping the Uber Eats Manager software with personalized growth recommendations and preparing to launch a new app for restaurant managers to facilitate on-the-go business management.
Prior reports indicated Microsoft&#8217;s LinkedIn testing a TikTok-like short-form video feed enabling users to interact with vertical short videos by liking, commenting, and sharing. This move by LinkedIn focuses on career-oriented and professional content.
Reports also suggested that&nbsp;Spotify Technology SA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) explore full-length music videos to appeal to the Gen Z audience. Meta expanded its short video offerings with the global launch of &#8220;Reels&#8221; in February 2022, while Google reported in June 2022 that YouTube &#8220;Shorts&#8221; had garnered over 1.5 billion logged-in monthly viewers.&nbsp;Amazon.Com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) also entered the fray in August 2022, trialing a TikTok-like photo and video feed within its shopping app to facilitate product discovery.
Uber stock gained over 136% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Global X Millennial Consumer ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MILN#NASDAQ">MILN</a>).
Price Action:&nbsp;UBER shares traded lower by 0.05% at $75.00 on the last check Tuesday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/03/37624971/uber-freight-targets-european-market-for-10x-expansion-push-by-2028" rel="noreferrer noopener">Uber Freight Targets European Market For 10X Expansion Push By 2028</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) shares are trading <a href="https://www.benzinga.com/premarket" target="_blank" rel="noreferrer noopener">higher in the morning session on Friday.</a>
Yesterday, the company entered into a new nationwide partnership with&nbsp;The Vitamin Shoppe, bringing the New Jersey-based health and wellness retailer&#8217;s selection to the Uber Eats app.
About 700 locations of The Vitamin Shoppe and Super Supplements are now available for ordering on Uber Eats across the U.S.
Read More:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38091557/health-on-demand-uber-eats-partners-with-the-vitamin-shoppe" rel="noreferrer noopener">&nbsp;Health On Demand: Uber Eats Partners With The Vitamin Shoppe</a>
Earlier this month, Uber Health collaborated with Acadia Healthcare Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHC#NASDAQ">ACHC</a>) to improve access to life-saving behavioral health care and addiction treatment.
The companies will initially focus on Acadia&#8217;s national Comprehensive Treatment Centers (CTCs) network, which will provide medication-assisted treatment (MAT) in combination with counseling and behavioral therapies for those struggling with opioid addiction.&nbsp;
The collaboration will provide patients with transportation to begin treatment quickly and efficiently. Acadia and Uber Health plan to roll out the program to 19 facilities across several states.
Related:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38071488/breaking-barriers-uber-health-and-acadia-healthcare-partner-to-enhance-behavioral-health-access" rel="noreferrer noopener">&nbsp;Breaking Barriers: Uber Health And Acadia Healthcare Partner To Enhance Behavioral Health Access</a>
Last month, the company&#8217;s smaller segment&nbsp;Uber Freight&nbsp;was in the headlines for aggressively pursuing growth in Europe&#8217;s diverse logistics sector, targeting a tenfold increase in its freight management to 2 billion euros by 2028 through a comprehensive digital platform that oversees companies&#8217; entire supply chains.&nbsp;
Check This Out:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/03/37624971/uber-freight-targets-european-market-for-10x-expansion-push-by-2028" rel="noreferrer noopener">Uber Freight Targets European Market For 10X Expansion Push By 2028</a>
In February, Uber reported fourth-quarter fiscal 2023 revenue growth of 15% year-on-year to $9.94 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37130853/ubers-stock-is-on-a-ride-wednesday-heres-why" rel="noreferrer noopener">beating the consensus of $9.76 billion.&nbsp;</a>
Uber&#8217;s GAAP EPS of 29 cents beat the consensus of 17 cents. Trips grew 24% year-over-year to 2.60 billion, equivalent to 28 million per day.&nbsp;
Investors can gain exposure to Uber via&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Global X Millennial Consumer ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MILN#NASDAQ">MILN</a>).
Price Action:&nbsp;UBER shares are trading higher by 2.369% to $76.69 on the last check Friday.&nbsp;
Photo via Shutterstock

What's Going On With Uber Technologies Shares Friday?

Uber Freight&nbsp;is aggressively pursuing growth in Europe&#8217;s diverse logistics sector, targeting a tenfold increase in its&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/01/30550961/uber-freight-bows-down-to-macro-uncertainties-lets-go-of-150-employees" rel="noreferrer noopener">freight management to</a>&nbsp;2 billion euros by 2028 through a comprehensive digital platform that oversees companies&#8217; entire supply chains.&nbsp;
Despite being a smaller segment of&nbsp;Uber Technologies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), contributing 14% of its total revenue in 2023, Uber Freight&#8217;s revenue dipped nearly 25% from the previous year, primarily due to declining trucking rates.&nbsp;
However, the situation shows improvement as supply chain issues are resolved, and excess inventories normalize, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-03-12/uber-freight-eyes-tenfold-boost-in-european-market-by-2028?srnd=technology-vp&amp;sref=TBDibEcD" target="_blank" rel="noreferrer noopener">reports</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37130641/why-is-uber-rival-stock-lyft-shooting-higher-wednesday" rel="noreferrer noopener">Lyft&#8217;s Q4 Earnings Beat Raises Stakes: Analyst Upgrades and First Positive Cash Flow Expected in 2024</a>
Lior Ron, the founder and CEO of Uber Freight, cites the success of major companies in North America as a critical driver for digital expansion in Europe, leveraging Uber&#8217;s technological and brand infrastructure and the demand from global customers for support in Europe. 
Uber Freight recently announced that it is managing 200 million euros in freight within Europe, aiming to capture a more significant share of the 1.2 trillion euros logistics market, as estimated by McKinsey &amp; Co.
Experts like McKinsey&#8217;s Florian Neuhaus see potential in standardizing transport management systems (TMS) across Europe.&nbsp;
In February, Uber reported&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37130853/ubers-stock-is-on-a-ride-wednesday-heres-why" rel="noreferrer noopener">fourth-quarter fiscal 2023</a>&nbsp;revenue growth of 15% year-on-year to $9.94 billion, beating the consensus of $9.76 billion.&nbsp;
Uber&#8217;s GAAP EPS of 29 cents beat the consensus of 17 cents. Trips grew 24% year-over-year to 2.60 billion, equivalent to 28 million per day. 
Investors can gain exposure to Uber via&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Global X Millennial Consumer ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MILN#NASDAQ">MILN</a>).
Price Action: UBER shares traded higher by 0.50% at $77.86 premarket on the last check Tuesday.
Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37614564/bitcoin-etf-investment-frenzy-500m-rushes-in-but-wheres-the-money-going">Bitcoin ETF Investment Frenzy: $500M Rushes In, But Where&#8217;s The Money Going?</a>
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Uber Freight Targets European Market For 10X Expansion Push By 2028

KKR &amp; Co Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kkr#NYSE">KKR</a>) backed&nbsp;BrightSpring Health Services, Inc.&nbsp;filed for an initial public offering (<a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/1865782/000119312524000734/d251968ds1.htm" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">IPO</a>) in the U.S. on Tuesday.
BrightSpring Health Services is a home and community-based healthcare services platform that offers complementary pharmacy and provider services to complex patients.
The company serves over 400,000 patients daily through its about 10,000 clinical providers and pharmacists, across 50 states.
Walgreen Co., an affiliate of&nbsp;Walgreens Boots Alliance, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wba#NASDAQ">WBA</a>) holds stake in the company, as per the filing.
BrightSpring Health Services plans to use the proceeds from the IPO to pay off debt. The company&#39;s total debt as of September 30, 2023, was $3.5 billion.
In the nine months ending September 2023, the company reported a revenue increase of 12.2% to $6.451 billion, led by volume growth and rate increases in the Home Health Care and Community and Rehab Care segments. BrightSpring reported a net loss attributable of $(148.1) million vs. a profit of $2.3 million a year ago.
The company had been aiming to pursue an IPO since 2021 but shelved it in November 2022 amid an uncertain economy, as per Reuters.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/12/36279355/kkr-secures-7-2b-prime-rv-loan-portfolio-in-strategic-move-with-bmo-collaboration" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">KKR Secures $7.2B Prime RV Loan Portfolio In Strategic Move With BMO Collaboration</a>
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KKR-Backed BrightSpring Health Services Sets Sail For IPO, Aiming To Curtail Debt

<ul>
<li>Flex Ltd&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flex#NASDAQ">FLEX</a>) owned solar technology firm&nbsp;Nextracker Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxt#NASDAQ">NXT</a>) raised $638.4 million via an upsized initial public offering of&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/02/n30826144/nextracker-announces-pricing-of-upsized-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">26.6 million shares at $24 per share</a>.</li>
<li>Nextracker upsized the offering from 23.3 million shares it chose to offer&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/02/n30677150/nextracker-announces-launch-of-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">at $20.00 - $23.00 per share.</a></li>
<li>Nextracker will likely trade on the Nasdaq under the ticker symbol &quot;NXT&quot; on February 9, 2023.</li>
<li>The underwriters have 30 days to purchase up to 3.99 million shares.</li>
<li>Nextracker provides intelligent, integrated solar tracker and software solutions used worldwide in utility-scale and distributed-generation solar power plants.</li>
<li>Price Action:&nbsp;FLEX shares closed lower by 1.23% at $24.15 on Wednesday.</li>
</ul>

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Flex's Nextracker Raises Over $638M Via Upsized IPO; To Begin Trading Today

<ul>
<li>Flex Ltd&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flex#NASDAQ">FLEX</a>) subsidiary,&nbsp;Nextracker Inc, filed for a proposed&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/01/n30419495/nextracker-files-registration-statement-for-proposed-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">initial public offering of shares</a>.</li>
<li>Nextracker aims to list its common stock on the Nasdaq under the ticker symbol &quot;NXT.&quot;&nbsp;</li>
<li>Nextracker provides intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects worldwide.</li>
<li>Nextracker has yet to fix the proposed offering&#39;s timing, number of shares, and price range.</li>
<li>Nextracker disclosed annual revenue of about $1.46 billion with a net income of $50.9 million for its last fiscal year.</li>
<li>Nextracker parent Flex will continue to control the company after the IPO, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-01-14/solar-energy-firm-nextracker-files-for-ipo-with-market-warming?sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reports</a>.</li>
<li>The IPO came after the U.S. passed a landmark climate law providing tax credits to solar installations, including the large fields of panels that use the company&#39;s trackers.</li>
<li>Separately, Flex&#39;s factory site in Sorocaba, Brazil, won the distinction of Sustainability Lighthouse under the World Economic Forum&#39;s Global Lighthouse Network (GLN). This is the first factory in Brazil to receive a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/01/n30436303/flex-factory-in-sorocaba-recognized-as-the-first-sustainability-lighthouse-in-brazil-by-the-world-" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Sustainability Lighthouse recognition</a>.</li>
<li>The Flex team in Sorocaba, Brazil, exhibited a substantial reduction in their environmental footprint.</li>
<li>Price Action:&nbsp;FLEX shares traded higher by 1.96% at $24.50 on the last check Tuesday.</li>
</ul>

Flex-Owned Solar Solutions Supplier Nextracker Files For US IPO

<ul>
<li>Short video app&nbsp;Triller Inc&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/06/g27922164/triller-inc-announces-confidential-submission-of-draft-registration-statement-for-proposed-listing" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">has confidentially filed</a>&nbsp;for an initial public offering with the U.S. SEC.</li>
<li>Recently, Triller&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/06/g27692033/seachange-and-triller-mutually-agree-to-terminate-proposed-merger" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">terminated its&nbsp;</a>merger with video advertising software provider&nbsp;SeaChange International, Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/seac#NASDAQ">SEAC</a>) when it shared plans to pursue an IPO with a potential listing&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/06/g27702328/triller-announces-plan-for-direct-listing-through-an-initial-public-offering-ipo" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">under the ticker</a>&nbsp;symbol &quot;ILLR&quot; by September.&nbsp;</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/21/12/24737748/triller-merging-with-seachange-international-what-investors-should-know" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Triller Merging With SeaChange International: What Investors Should Know</a></li>
<li>Triller, launched in 2015, has looked to take on larger rival TikTok.&nbsp;</li>
<li>Triller offers similar video sharing, editing, and social networking features to users on its platform.</li>
<li>Needham&nbsp;analyst and TikTok President&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27763107/needham-considers-it-futile-for-meta-to-compete-with-tiktok-youtube-amazon-google-reserves-concerns" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">recently shared how</a>&nbsp;they felt that&nbsp;Meta Platforms Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) attempts to emulate TikTok would be futile as it continued to lose subscribers to the Chinese counterpart.</li>
<li>The filing&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/trading-ideas/movers/22/06/27905990/why-amd-and-nvidia-shares-are-nosediving-today" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">comes amid a</a>&nbsp;largely volatile market due to the tech selloff over macro uncertainties.</li>
<li>Recently, the Federal Communications Commission&#39;s&nbsp;Brendan Carr&nbsp;urged&nbsp;Apple, Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) and&nbsp;Alphabet, Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/06/27896589/fccs-carr-asks-apple-google-to-take-out-tiktok-from-app-stores-calls-platform-a-sophisticated-survei" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">to take down</a>&nbsp;the TikTok app from their respective app stores over national security issues.</li>
</ul>

Penny Stocks

AAPL

SEAC

TikTok's Smaller US Rival Files For IPO

<ul>
<li>Phoenix Motor Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pev#NASDAQ">PEV</a>) has priced&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/06/b27601201/phoenix-motor-inc-announces-pricing-of-15-750-000-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">its initial public offering</a>&nbsp;of 2.1 million shares at $7.50 per share.</li>
<li>The offer price falls around the low end of its&nbsp;<a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/1879848/000110465922061549/tm2122230-23_s1a.htm" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">predicted range of $7 - $9 per share</a>.</li>
<li>Phoenix Motor is a California-based company that designs, assembles, and integrates electric drive systems and light and medium-duty electric vehicles.</li>
<li>The company aims to raise $15.8 million&nbsp;before deducting underwriting discounts and commissions and offering expenses.</li>
<li>The shares have been approved for listing on the Nasdaq capital market and will commence trading on June 8, 2022, under the ticker symbol &quot;PEV.&quot;</li>
<li>Phoenix has granted the underwriters an option to purchase up to an additional 0.3 million shares at the offer price.</li>
<li>The offering is expected to close on June 10, 2022.</li>
</ul>

Offerings

EV Company Phoenix Motor Hits The IPO Path - Checkout For Details

<ul>
<li>Digital freight operator&nbsp;Convoy Inc&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/04/b26731087/convoy-raises-260-million-to-accelerate-digital-freight-transformation" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">raised $160 million</a>&nbsp;in new funding that values the load-matching business at $3.8 billion positioning it for a potential IPO.</li>
<li>Convoy substantially completed the Series E funding round led by Baillie Gifford &amp; Co, T. Rowe Price Associates Inc, and others during the fourth quarter of 2021.</li>
<li>Convoy also bagged a $150 million line of credit from JPMorgan Chase &amp; Co and a $100 million loan from a specialty finance company Hercules Capital Inc in March.</li>
<li>The new backing will help tap the surging customer demand within the nation&#39;s $800 billion trucking industry.&nbsp;</li>
<li>The backing will help tech startup Convoy looking to use digital tools to make freight marketplaces more efficient, add workers, and expand services while bringing the business closer to profitability,&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/articles/digital-freight-broker-convoy-weighs-potential-ipo-after-hitting-3-8-billion-valuation-11650531600?mod=hp_lista_pos1" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the Wall Street Journal reports</a>.</li>
<li>It will also help to bolster a &quot;drop and hook&quot; service in which drivers pick up shippers&#39; preloaded trailers. Convoy looks to expand its fleet of trailers for the service, called Convoy Go, by 35% to 40% by the end of 2022.</li>
<li>The funding round followed a $400 million round in November 2019 that valued the company at $2.75 billion, WSJ notes.</li>
<li>The new funds brought Convoy&#39;s total equity and venture debt raised to $928 million.</li>
<li>Convoy acknowledged that half its 200 job openings were in data science and engineering.</li>
<li>Convoy&#39;s 2021 revenue surpassed $750 million and was on track to exceed $1 billion in 2022, as per WSJ.&nbsp;</li>
<li>Convoy was profitable on a per-unit basis, making a profit on individual shipments, but unprofitable overall due to its fixed costs.</li>
</ul>

Financing

This Digital Freight Operator Raises Funds At $3.8B Valuation, Positioning It For Potential IPO

<ul>
<li>Vietnam-based electric vehicle maker&nbsp;VinFast&rsquo;s&nbsp;Singapore-based holding company had filed for an initial public offering (IPO) with U.S. securities regulators,<a class="editor-rtfLink" href="https://www.reuters.com/business/autos-transportation/vietnamese-automaker-vinfast-files-us-ipo-2022-04-07/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;Reuters reported</a>.</li>
<li>VinFast looks to raise about $2 billion from the offering.</li>
<li>The company first launched in 2017 and became Vietnam&rsquo;s first domestic car manufacturer when its gas-powered models reached consumers in 2019.</li>
<li>VinFast is planning to build its first U.S. factory in North Carolina and spend $4 billion for the same.</li>
<li>The report noted that the company is betting big on the U.S. market, hoping to compete with legacy automakers and startups with electric SUVs and a battery leasing model.</li>
</ul>

LCID

RIVN

TSLA

EV Maker VinFast Files for US IPO: Reuters

Bausch &amp; Lomb Corp&nbsp;filed S-1 for its initial public offering, nearly 1.5 years after its parent company,&nbsp;Bausch Health Companies Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhc#NYSE">BHC</a>) said it would spin off the eye-care company.
<ul>
<li>The company said it plans to&nbsp;<a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/0001860742/000119312522008667/d178785ds1.htm" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">raise $100 million in its IPO</a>. It didn&#39;t disclose the number of shares, according to the filing with the Securities and Exchange Commission on Thursday.</li>
<li>On August 6, 2020, Bausch Health said it planned a spin-off of the eye-care business from its core pharmaceutical operations.&nbsp;</li>
<li>Also See:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/21/08/22296575/bausch-health-misses-on-q2-sales-cuts-fy21-outlook-plans-ipo-for-medical-aesthetics-business" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Bausch Health Misses On Q2 Sales, Cuts FY21 Outlook, Plans IPO For Medical Aesthetics Business</a>.</li>
<li>Bausch Health plans to sell Bausch &amp; Lomb shares through its wholly-owned subsidiary, which will retain all proceeds from the sale. Bausch Health will remain the majority owner of the new public company.</li>
<li>Bausch &amp; Lomb made $2.76 billion in revenue in the nine months ended September 30, 2021, and $131 million in profit.</li>
<li>The company plans to list on the New York Stock Exchange and the Toronto Stock Exchange under the symbol BLCO.</li>
<li>Price Action:&nbsp;BHC shares are up 2.43% at $27.40 during the market session on the last check Thursday.</li>
</ul>

Health Care

Bausch Health's Eye-Care Spin-Off Entity Files For $100M IPO

<ul>
<li>Sono Group NV&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sev#NASDAQ">SEV</a>), the parent company to Sono Motors GmbH, has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/11/g24138760/sono-motors-announces-pricing-of-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">priced its initial public offering (IPO) of 10 million shares</a>&nbsp;to the public at $15.00 per share.</li>
<li>Sono Motors is developing the solar electric vehicle (SEV) for the masses, the Sion. It has reached more than 16,000 reservations with advance payments for the Sion.</li>
<li>The company had earlier projected its IPO price range at $14.00 - $16.00 per share.</li>
<li>In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 1.5 million common shares.</li>
<li>The company expects common shares to begin trading on the Nasdaq Global Market on November 17, 2021, under the ticker symbol &quot;SEV.&quot;</li>
<li>The offering is expected to close on November 19, 2021.</li>
<li>Berenberg is acting as the sole global coordinator for the proposed offering, and Craig-Hallum is acting as co-manager.</li>
</ul>

Solar Electric Vehicle Firm Sono Raises $150M Via IPO

<ul>
<li>Lulu&#39;s Fashion Lounge Holdings Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lvlu#NASDAQ">LVLU</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/11/g24032942/lulus-announces-pricing-of-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">has raised $92 million through Initial Public Offering&nbsp;</a>(IPO), priced at the bottom of the estimated range.</li>
<li>The company&nbsp;<a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/1780201/000119312521325156/d189376ds1a.htm" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">had previously expected</a>&nbsp;the IPO price to be $16 - $19 a share.</li>
<li>All of the 5.75 million shares are being offered and sold by Lulu&#39;s at $16 each. It has granted the underwriters a 30-day option to purchase up to an additional 0.86 million shares.</li>
<li>The shares will begin trading on the Nasdaq Global Market on November 11, 2021, under the ticker symbol &quot;LVLU.&quot;&nbsp;</li>
<li>The offering is expected to close on November 15, 2021.</li>
<li>Goldman Sachs &amp; Co. LLC, BofA Securities, and Jefferies are acting as joint lead book-running managers for the offering.</li>
</ul>

LVLU

Lulu's Fashion Lounge Raises $92M Via IPO Priced At Bottom Of Estimated Range

<ul>
<li>The neighborhood network&nbsp;Nextdoor, Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kind#NYSE">KIND</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/11/n23932564/nextdoor-the-neighborhood-network-soon-to-become-publicly-traded-following-the-close-of-its-merger" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">will begin trading</a>&nbsp;from November 8 following its special purpose acquisition company (<a class="editor-rtfLink" href="https://www.benzinga.com/topic/spacs" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SPAC</a>) merger with&nbsp;Khosla Ventures Acquisition Co II&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kvsb#NASDAQ">KVSB</a>).</li>
<li>The combined entity will begin trading on the NYSE under the symbol &quot;KIND.&quot;</li>
<li>Khosla valued Nextdoor at $4.3 billion,&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/articles/nextdoor-to-complete-move-to-go-public-11636372800?mod=tech_lead_pos3" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the Wall Street Journal reports</a>.</li>
<li>Nextdoor connects neighbors to nearby neighbors, businesses, and public services, creating a highly engaged, hyperlocal network, building meaningful online and offline connections.&nbsp;</li>
<li>&quot;Through the KVSB trust proceeds and the fully committed private placement, we raised $674 million that will help us to fund long-term growth at scale and enable our purpose of cultivating a kinder world where everyone has a neighborhood to rely on,&quot; Nextdoor CEO Sarah Friar said. &quot;We chose &quot;KIND&quot; as our NYSE ticker as kindness is core to Nextdoor&#39;s purpose.</li>
<li>Nextdoor includes a feature similar to&nbsp;Meta Platforms Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) Facebook Marketplace, where users can sell furniture, clothes, and other items directly to their neighbors.</li>
</ul>

Small Cap

KIND

KVSB

Nextdoor Goes Public Via SPAC Merger; Begins Trading Today

<ul>
<li>Real Good Food Company Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rgf#NASDAQ">RGF</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/11/g23914015/the-real-good-food-company-announces-pricing-of-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">priced its initial public offering</a>&nbsp;(IPO) of 5.3 million shares of Class A common stock at $12 per share.</li>
<li>Founded in 2016, Real Good Foods develops, markets, and manufactures comfort foods intended to be sold in the health and wellness segment of the frozen food category.</li>
<li>The company and a selling stockholder have also granted the underwriters a 30-day option to purchase up to an additional 0.8 million shares at IPO price.</li>
<li>Real Good Food had expected to price the IPO at $14 - $16 per share.</li>
<li>Real Good Foods&nbsp;expects gross proceeds from this offering to be approximately $64.0 million.</li>
<li>The company expects the shares to begin trading on the Nasdaq Global Market on November 5, 2021, under the ticker symbol &quot;RGF.&quot;&nbsp;</li>
<li>The company expects the offering to close on November 9, 2021.</li>
<li>Jefferies and William Blair &amp; Company, L.L.C. are serving as lead book-running managers for the offering.</li>
</ul>

Real Good Food Prices IPO At $12/Share, Below Expected Range

<ul>
<li>Home furnishings retailer&nbsp;Arhaus Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arhs#NASDAQ">ARHS</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/11/b23879592/arhaus-announces-pricing-of-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">priced its initial public offering&nbsp;</a>(IPO) of 12.9 million shares at $13.00 per share.</li>
<li>The company&nbsp;<a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/1875444/000119312521317589/d183044ds1a.htm" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">had expected</a>&nbsp;to price the IPO at $14 -$17 earlier.</li>
<li>The underwriters will have a 30-day option to purchase up to an additional 1.9 million shares from the company.</li>
<li>The shares are expected to begin trading on the Nasdaq Global Select Market on Thursday, November 4, 2021, under the ticker symbol &quot;ARHS.&quot;</li>
<li>The offering is expected to close on November 8, 2021, subject to customary closing conditions.</li>
<li>BofA Securities and Jefferies LLC are acting as joint lead book-running managers and as representatives for the proposed offering.</li>
</ul>

ARHS

Arhaus Prices IPO At $13/Share, Below Expected Range

<ul>
<li>Global lifestyle brand&nbsp;Allbirds Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bird#NASDAQ">BIRD</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/11/g23846076/allbirds-announces-pricing-of-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">priced its initial public offering</a>&nbsp;(IPO) of 20.2 million shares at $15.00 per share, above its&nbsp;<a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/0001653909/000162828021020401/allbirdss-1a4.htm" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">expected price range&nbsp;</a>of $12 to $14 per share.</li>
<li>The startup&#39;s valuation is about $2.15 billion, based on the 143.12 million shares to be outstanding after this offering.</li>
<li>About 16.35 million shares were sold by Allbirds, and 3.84 million shares were offered by certain existing stockholders.</li>
<li>The underwriters have a 30-day option to buy up to an additional 0.5 million shares from Allbirds and up to an additional 2.5 million shares from certain existing stockholders.</li>
<li>The shares are expected to begin trading on the Nasdaq Global Select Market on November 3, 2021, under the ticker symbol &quot;BIRD.&quot;</li>
<li>The offering is expected to close on November 5, 2021.</li>
</ul>

BIRD

Allbirds Prices IPO At $15/Share Valuing Company At $2.1B

<ul>
<li>Online learning and teaching marketplace&nbsp;Udemy Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/udmy#NASDAQ">UDMY</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/10/g23734658/udemy-announces-pricing-of-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">has fixed the initial public offering&nbsp;</a>price at $29 per share, at the top of the previously expected $27-$29 per share range, resulting in $420.5 million proceeds.</li>
<li>The company is offering 14.5 million shares of its common stock, plus up to an additional 2 million shares that the underwriters have a 30-day option to purchase.</li>
<li>The company expects the shares to begin trading on the Nasdaq Global Select Market on October 29, 2021, under the ticker symbol &quot;UDMY.&quot;</li>
<li>The offering is expected to close on November 2, 2021, subject to customary closing conditions.</li>
<li>Udemy has a market value of nearly $4 billion based on the 137.42 million outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.</li>
<li>Morgan Stanley, J.P. Morgan, Citigroup, BofA Securities, Jefferies, and Truist Securities are acting as book-running managers for the offering.</li>
</ul>

UDMY

Udemy Raises $421M Via IPO Priced At Top End Of Estimated Range

<ul>
<li>German biotech&nbsp;Evotec SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/evtcy#OTC">EVTCY</a>) plans to raise $576 million by offering 22 million ADSs at $26.16. At the proposed price, Evotec would command a market value of $9.2 billion.&nbsp;</li>
<li>See the&nbsp;<a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/0001412558/000119312521307743/d166695df1a.htm#rom166695_8" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SEC offer prospectus here</a>.</li>
<li>The Company plans to list on the NASDAQ under the symbol EVO.</li>
<li>Evotec plans to use $100 million from the IPO proceeds to expand a biologics manufacturing facility in Redmond, Washington, $175 million for building additional capacity in France, $115 million for solo R&amp;D, $80 million for equity investments, and the list goes on.</li>
<li>The Company works as a drug discovery, and development partner to the pharmaceutical and biotechnology industry focused on discovering drug candidates in a wide range of difficult-to-treat diseases.&nbsp;</li>
<li>It generates income by charging fees for its services, collecting milestones &amp; royalties, and equity ownership in biotechs.&nbsp;</li>
<li>Evotec states that its pipeline has over 130 assets.</li>
<li>Most recently:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/21/09/22776772/bristol-myers-exercises-option-in-license-evotecs-neurodegenerative-candidate" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bristol Myers Exercises Option In-License Evotec&#39;s Neurodegenerative Candidate</a>.</li>
<li>Price Action:&nbsp;EVTCY shares are down 2.91% at $24 during the market session on the last check Wednesday.</li>
</ul>

Biotech

EVOTF

EVTCY

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