Is it smart to buy Legalzoom IPO?

Asked 5 years ago

Hello investors, I have a question for you: I've just opened an account with eToro, and I'm starting to look at what stocks I can invest in. I've also heard that you can make good money if you invest in IPO's. How true is this? I found a Legalzoom IPO. It looks promising (I'm scratching info from any nook and cranny I can find). Should I buy it?

Legalzoom Opinions on specific stocks Ipo stocks

Andrew Moran

Monday, August 02, 2021

Buying a stock that has recently gone public can result in some trouble for your portfolio.
The recent performances of, let's say Robinhood and Coinbase, have not been great.
The share price of Legal Zoom is already down 2.5% to around $38.
While Legal Zoom is a great investment because of what it does (online legal technology company), it is best to wait until the excitement deflates a bit.
Its P/E ratio is 3,300!
Perhaps it would be best to wait until it falls below its 52-week low of $34.50.