To IPO’s credit it has raked in $28.2 million in assets, according to Renaissance Capital data.
Assuming Twitter’s market cap sticks at $13.6 billion during the first day of trading, the stock would be slightly larger than Worday (NYSE: WDAY), IPO’s sixth-largest holding. At $13.6 billion, Twitter would also be more than twice as large as IPO’s fifth-largest holding, Realogy Holdings (NYSE: RLGY).
At that value, Twitter would also be more than quadruple the size of Zynga (Nasdaq: ZNGA) and more than double the current size of Yelp (NasdaqGS: YELP), SOCL’s seventh- and eighth-largest holdings, respectively, indicating the stock could take on a fairly prominent role in that ETF.
Regardless of Twitter, IPO has endured some criticism since its debut. However, as of Nov. 1, the ETF’s underlying index was up almost 51% in the past year.
Renaissance IPO ETF