Despite an increasingly uncertain economic environment, the stock market is once again moving higher today. For investors in Forge Global (NYSE:FRGE), today has been very good in particular. Currently, shares of FRGE stock are up by around 100% on the company’s debut.
Interestingly, Forge Global came to market via a special purpose acquisition company (SPAC) merger. Motive Capital Corp was the SPAC that Forge Global partnered with on the deal. Broadly speaking, sentiment around SPACs has been otherwise dismal of late. That makes the amount of interest FRGE stock has received today especially noteworthy.
Overall, it appears that Forge’s business model is what’s garnering attention for the company. Today, investors appear to be more focused than ever on gaining exposure to secular trends within the finance space. Forge Global happens to be a leader in crowdfunding and the trading of private securities. For investors who see a bright future with this business, FRGE stock is one to watch right now.
Let’s dive into a few things investors may want to know about Forge Global. After all, this debut has been quite the event.
What to Know About FRGE Stock
- Forge Global is a company seeking to give investors access to otherwise illiquid or hard-to-reach private market securities.
- The company provides a unique platform for these securities to be traded.
- Today’s official start of trading for FRGE stock provides investors with the “first publicly traded private securities marketplace” to invest in.
- The merger provides Forge Global with gross proceeds of more than $215 million.
- The company expects to use these funds to accelerate its network growth.
- Forge reported record revenue in 2021, growing its revenue 75% to $3.2 billion.
- Today, investors appear to be foreseeing more revenue growth on the horizon for Forge Global.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
