EquipmentShare (EQPT) Soars 33% on Market Debut

EQPT +32.90%

We recently published 10 Stocks Delivering Outsized Gains; 3 Are Hitting Record Highs. EquipmentShare.com Inc. (NASDAQ:EQPT) was one of the best performers on Friday.

EquipmentShare soared by 32.90 percent in its first day as a publicly listed company, suggesting strong investor interest for its business that supported the successful raising of $747.3 million in fresh funds.

During the session, EquipmentShare.com Inc. (NASDAQ:EQPT) opened the day at $28.50, jumped to its highest price of $33, then trimmed gains to end the day just up by 32.90 percent at $32.56 apiece. It priced its initial public offering at $24.50.

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Founded in 2015 by brothers Jabbok and Willy Schlacks, EquipmentShare.com Inc. (NASDAQ:EQPT) is engaged in construction equipment rental, sales, and technology services, connecting workers and construction equipment and materials across jobsites.

The IPO came at a time of strong investor interest in the property industry, thanks to lower interest rates, and ahead of the Federal Reserve’s next open market committee meeting, where economists are expecting an interest rate cut.

While we acknowledge the potential of EQPT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.