This Tuesday, Wish and DoorDash, two US firms in the technology sector, joined the International Quotation System (SIC), becoming a new investment option in a segment that is not represented among the shares of Mexican companies listed on the local Stock Exchange. .
On the day of their debut on the global market, the shares of both online trading platforms had a bearish day on Wall Street.
DoorDash was the biggest drop with a 5% loss Tuesday on the NYSE, priced at $ 133.66.
Wish, meanwhile, lost 4.03% to trade at $ 18.34.
Even since their debut on the New York Stock Exchange at the end of last year, both platforms are in negative territory, falling 29.50 and 8.52%, respectively.
The SIC is a platform created by the Mexican Stock Exchange (BMV) in 2013 that allows investment from Mexico in stocks and ETFs that are listed in other markets. Currently, it has a total of 2,683 securities, between company titles and ETFs.
With the list of the two US companies, the SIC adds an offer of 108 securities so far this year, among which are Marriott, Epson and Miniso.
Just on March 11, the shares of Airbnb, the lodging rental services platform, were hosted in the SIC.
Ecommerce dominates
Founded in 2010 in San Francisco, California, Wish is an online e-commerce company that emerged as a mobile application that allowed users to create shopping wish lists among a group of primarily Asian retailers.
“Currently, it has more than 1.5 million products for sale through more than 500,000 affiliated merchants around the world, and registers more than 107 million monthly users. The firm debuted on the NASDAQ on December 16, 2020, under the ticker ‘Wish’, “said the BMV in a statement.
In its first financial report reported to the New York Stock Exchange, the firm announced that strong demand for marketplace and logistics services drove total revenue growth for the fourth quarter of 2020, to 38% year-on-year.
DoorDash listed its shares in December 2020 on the NYSE and three months after its departure it reached the global market in Mexico. In its Initial Public Offering (IPO) it raised $ 3.37 billion.
It has currently positioned itself in the food delivery market in the United States, occupying the second position in total sales and maintaining a 60% market share in the convenience delivery category.
“In October 2019 it opened its first ‘ghost kitchen’ to facilitate home delivery of food, and in November 2020 it announced the opening of its first physical restaurant in San Francisco, with home delivery services,” explained Biva in a statement.
DoorDash reached the global market through the Institutional Stock Exchange (Biva) together with the Kuspit Stock Exchange house.
For its part, Wish was listed in the global market through the Mexican Stock Exchange.
In its first financial report since becoming a public company, Wish reported revenue of $ 970 million in the last quarter of last year compared to about $ 300 million for the same period in 2019. The firm expects total orders for this year they are around between 30,000 million dollars and 33,000 million dollars, a growth of 33% compared to 2020.
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