Pets, Not Politics: Petco Shares and the PAWZ ETF Surge

Featured Pets Not Politics Petco Shares and the PAWZ ETF Surge Ian Young

Featured Pets Not Politics Petco Shares and the PAWZ ETF Surge Ian Young

The Petco and Poshmark IPOs followed Affirm Holdings, the online consumer lender whose shares nearly doubled on its trading debut Wednesday after raising $1.2 billion U.S.in its IPO. The company plans to use that money to pay off debt. Most recently, in 2015, the company traded hands in a private equity deal that valued the brand at $4.6 billion.

Products and services from pet stores like Petco have grown in popularity during the pandemic, as an increasing number of Americans adopt new dogs, cats, lizards, and hamsters.

Americans also spent more money on their pets previous year.

United States pet supplies retailer Petco has announced the pricing of its initial public offering on the NASDAQ Stock Exchange. And a year ago it gave itself a new spa-sounding corporate name: Petco Health and Wellness Co.

More pet-focused IPOs are on the way in 2021.

PAWZ 1 Year Performance

Petco has posted a net loss of $24,826 on net sales of about $3.58 million in the 39 weeks ended October 31, the filing showed. But profits still elude the company. It reported a loss of $20 million in that period, down from a loss of $88 million the year before. The company now has approximately 1,470 stores in the United States and Puerto Rico, including more than 100 in-store veterinary hospitals.

The figure includes online orders that are packaged and shipped from stores, orders picked up curbside or orders delivered by a same-day delivery provider.

Latham & Watkins used a capital markets team to advise the underwriters, headed up by NY partner Michael Benjamin and Bay Area partners Brian Paulson and Tad Freese, together with various associates. While the majority of the company's business comes from dog parents, Coughlin said he hopes cat, reptile and other pet owners read into "WOOF" the company's love for all animals.

"It's one of those once-in-a-lifetime experiences, and it's great validation for the Petco team that's worked so hard and so smartly over the last several years", Coughlin said in an interview with the Union-Tribune.

To ring the opening bell at the Nasdaq stock market, where Petco started trading Thursday, Coughlin brought his 12-year-old Labrador retriever Yummy, who looked confused by all the clapping and falling confetti.

Previous Coronavirus Infection May Confer Immunity for at Least 5 Months
But there is evidence that people with antibodies might still carry and spread the virus, finds a United Kingdom study. Simon Clarke , Associate Professor in Cellular Microbiology, University of Reading, according to CNN .

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