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the latest news and analysis so your portfolio is always positioned for maximum potentialShares of the innovative wealth management company opened trading on the Nasdaq (NDAQ) under the ticker symbol WLTH at $14 a share and ended the day at $14.19, a modest increase that showed lukewarm interest. Wealthfront priced its IPO at $14 per share and is now valued at $2.7 billion based on the closing price Dec. 12.Wealthfront picked a bad day to go public, with all three of the major U.S. stock indices deep in the red as concerns about the health of the U.S. economy and the artificial intelligence (AI) trade continue to shake investors’ confidence in the current rally.Wealthfront operates in the growing wealth management industry, which has benefited from more Americans seeking out financial advice and help managing their stock portfolios. Founded in 2008, Wealthfront caters primarily to Millennial and Gen Z investors, offering professionally managed portfolios at low costs.The company has seen explosive growth in its cash savings accounts. It charges 0.25% annually on assets under management for its robo-advisory investment service. Traditional human advisors typically charge 1% or more for the same offering. Wealthfront almost didn’t go public. In 2022, Swiss bank UBS (UBS) announced it would acquire Wealthfront for $1.4 billion in a deal that was later canceled.Wealthfront is one of several IPOs this year that have fizzled out of the gate. High-profile market debuts from companies such as ticket reseller StubHub (STUB) and online financial services company Klarna (KLAR) have also disappointed. Both STUB and KLAR stocks are trading below their IPO prices.See all upcoming IPOs on TipRanks’ IPO CalendarIt’s too early for any analysts to have ratings or price targets on Wealthfront’s stock. So instead, we’ll look at another newly public financial company, Klarna Group. The stock of Klarna has a consensus Strong Buy rating among 16 Wall Street analysts. That rating is based on 13 Buy and three Hold recommendations issued in the last three months. The average KLAR price target of $47.53 implies 52.83% upside from current levels.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,867.00 +36.25 (+0.53%)Dow Futures49,112.00 +252.00 (+0.52%)Nasdaq Futures25,377.50 +164.00 (+0.65%)Russell 2000 Futures2,594.80 +20.80 (+0.81%)VIX16.07 +0.33 (+2.10%)Gold4,366.40 +38.10 (+0.88%)Trending tickersBTC-USD Bitcoin USD 89,540.72 +81.38 (+0.09%)IRBT iRobot Corporation 4.3200 -0.6800 (-13.60%)TSLA Tesla, Inc. 458.96 +12.09 (+2.71%)OCG Oriental Culture Holding LTD 0.2200 -0.6910 (-75.85%)RADX Radiopharm Theranostics Limited 4.2600 +0.0500 (+1.19%)PortfolioSign in to access your portfolioSign inTop gainersPSNY Polestar Automotive Holding UK PLC 14.33 +2.32 (+19.32%)YOU Clear Secure, Inc. 41.08 +4.82 (+13.29%)RIVN Rivian Automotive, Inc. 18.42 +1.99 (+12.11%)EVCM EverCommerce Inc. 12.08 +1.19 (+10.93%)LULU lululemon athletica inc. 204.97 +17.96 (+9.60%)Top losersFRMI Fermi Inc. 10.09 -5.16 (-33.84%)MOD Modine Manufacturing Company 139.88 -25.31 (-15.32%)OKLO Oklo Inc. 87.42 -15.58 (-15.13%)SEI Solaris Energy Infrastructure, Inc. 46.07 -8.01 (-14.81%)SNDK Sandisk Corporation 206.18 -35.43 (-14.66%)Most activeNVDA NVIDIA Corporation 175.02 -5.91 (-3.27%)BBAI BigBear.ai Holdings, Inc. 6.38 -0.36 (-5.34%)PLUG Plug Power Inc. 2.3200 -0.0400 (-1.69%)RIVN Rivian Automotive, Inc. 18.42 +1.99 (+12.11%)TSLA Tesla, Inc. 458.96 +12.09 (+2.71%)Top economic eventsEarnings eventsMy earnings eventsEarnings events