New IPO today, Ozon = Europe’s Amazon DD via /r/wallstreetbets #stocks #wallstreetbets #investing

New IPO today, Ozon = Europe’s Amazon DD

Ozon is the country’s second-largest e-commerce player and is placing itself to become Russia's answer to Amazon with a plan to consolidate and dominate the fast-growing online retail space over the coming years.

The first-day jump gives Ozon a valuation of more than $7 billion in what analysts saw as a wildly successful launch.

Sales volumes have more than doubled over the last 12 months — thanks in part to the coronavirus pandemic — and analysts expect Ozon will continue to expand rapidly and eat up market share in a Russian e-commerce industry which has significantly lagged its international peers in size and maturity.

About Ozon Holdings: Ozon Holdings has 11.4 million active buyers. More than 51 million people have downloaded the company’s shopping app, which had 41 million monthly active users in the third quarter.

DD – hold long term

Submitted November 24, 2020 at 08:00PM by X-x-Giger
via reddit