GoodRx Shares Tumble but CEO Says he Never Looks at Stock Price: ‘If I Did, I Would Jump out this Window’
By all accounts, Santa Monica-based GoodRx delivered a strong first quarter as a public company. Year-over-year revenue beat analyst expectations, soaring 38%. Monthly active users increased a robust 29%. As the pandemic continued to rage across the United States, a record 4.9 million consumers used GoodRx to fill prescriptions.
"I think across the board I was really happy," said co-founder and CEO Doug Hirsch.
But Wall Street was not as pleased, with the stock closing down more than 6%. After mostly zigzagging since their September debut, shares now trade near where they did the first day of trading.
- GoodRx CEO Doug Hirsch on Inequality in US Healthcare - dot.LA ›
- How GoodRx Got Started - dot.LA ›
- GoodRx Shares Soar 50% on Wall Street Debut - dot.LA ›
- GoodRx Makes Prescription Drugs More Affordable - dot.LA ›
Ten years ago, GoodRx CEO Doug Hirsch walked into a pharmacy on Wilshire Boulevard with a prescription that would've cost him $500.
"It seemed outrageous," he said on Tuesday during a wide ranging discussion with dot.LA managing editor Rachel Uranga at the dot.LA Summit.
- GoodRx Makes Prescription Drugs More Affordable - dot.LA ›
- GoodRx is Reportedly Looking to Go Public - dot.LA ›
- GoodRx Shares Fall Despite Robust Revenue Growth - dot.LA ›
Prescription discount GoodRx shares skyrocketed more than 50% in its Wall Street debut on Wednesday. Shares started trading under the symbol "GDRX" at an IPO pricing of $33 each but quickly rose landing at $50.50 per share at market close.
GoodRx is the first Los Angeles tech company to go public this year and follows a wave of other tech companies that have recently gone public, including Unity and Snowflake.
- GoodRx is looking to go public: Reuters - dot.LA ›
- GoodRx To Enter NASDAQ as GDRX - dot.LA ›
- GoodRx Files for IPO - dot.LA ›
- GOAT and GoodRx's Very Good Day - dot.LA ›
- GoodRx Shares Fall Despite Robust Revenue Growth - dot.LA ›
- GoodRx Stock Plummets After Amazon Announcement - dot.LA ›