Market Pulse Archives

Oct. 6, 2020, 7:00 a.m. EDT

Tech-based auto insurer Root files to go public

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Root Inc. Cl A (ROOT)
  • X
    Renaissance IPO ETF (IPO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Root Inc. /zigman2/quotes/222112775/composite ROOT -3.84% , the Ohio-based auto insurer which uses mobile apps to tailor policies to the individual, has filed to go public. The company hasn't determined the number of shares it will offer in the initial public offering, or the expected pricing of the IPO. Last month, Reuters reported that an IPO could value the company at around $6 billion. The company said in a filing late Monday that its Class A shares are expected to list on the Nasdaq under the ticker symbol "ROOT." Goldman Sachs and Morgan Stanley are the lead underwriters. For the six months ended June 30, the company recorded a net loss of $144.5 million on total revenue of $245.4 million, after a loss of $97.0 million on revenue of $104.1 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +0.94% has rallied 27.5% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.09% has gained 7.2%.

US : U.S.: Nasdaq
$ 18.28
-0.73 -3.84%
Volume: 740,715
Jan. 20, 2021 10:34a
P/E Ratio
Dividend Yield
Market Cap
$4.74 billion
Rev. per Employee
US : U.S.: NYSE Arca
$ 69.80
+0.65 +0.94%
Volume: 191,132
Jan. 20, 2021 10:34a
+41.42 +1.09%
Volume: 550.22M
Jan. 20, 2021 10:34a

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.