Waystar stock falls on its Nasdaq debut

Waystar (WAY), a healthcare payment software company, began its initial public offering (IPO) on Friday and saw its shares fall during afternoon trading. This marks the largest US-based company to put out an IPO this year.

Yahoo Finance anchors Julie Hyman and Jared Blikre discuss the Waystar IPO and how the stock may perform moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Nicholas Jacobino

Video transcript

We are not to be confused with was star.

By the way, this is a health care payment software company having its initial public offering today at 2150 a share price at the low end of the range.

And the shares are falling today.

And by the way, this is the biggest US based company that is making its public debut this year.

I was surprised, too, because they only raised what about a less than a billion dollars.

We've had companies like Viking, which is the European based River Cruise company, for example Reddit Reddit not based in, but it's it was Or was it smaller?

Yeah, so anyway.

But you see, you see, um, the shares falling today, which maybe helps explain why we haven't seen more IP OS when you get a reception, I think total this year with, uh US IP OS have only raised 1890 billion dollars.

That's really low.

And we've talked about the IP turnaround.

Uh, we're still waiting for it.

Um, it's, you know, it takes a while for for markets to renormalized, and I don't think that the appetite has been out there, so yeah, it doesn't seem so.

But we cycled.

We we had so many.

There were so many unicorns waiting for so long to issue after the pandemic.

We got that flurry and now there's a lull.