New Stocks: TrueCar
TrueCar runs an ecommerce site for autos, and looks to have excellent timing with a 2014 IPO. The auto market has continued to show momentum, as seen with the strength of companies like GM (GM), Ford (F) and AutoNation (AN). In fact, Chrysler is also expected to join the list of new stocks early next year.
TrueCar is the mastermind of serial entrepreneur Scott Painter, who launched other companies like CarsDirect.com, and Zag.com. And he has had little trouble raising capital for his venture, snagging $322 million in venture capital. So investors like GSV Capital (GSVC), the United Services Automobile Association, GRP Partners, Anthem Venture Partners and DealerTrack (TRAK) probably want to get a return on their investments — and soon.
Since 2005, TrueCar has delivered more than 800,000 vehicles to customers, and the company has been profitable since 2009. That makes TrueCar one of the most anticipated new stocks.