SharkNinja (NYSE:SN) executives rang the opening bell at the New York Stock Exchange today. The home appliance company has officially begun trading publicly as SN stock.
SharkNinja is a combination of two noteworthy brands that encompass a wide variety of cutting-edge home appliances and goods. While these products have nothing to do with either sharks or ninjas, they span across many consumer goods areas, from cosmetics to vacuum cleaners and advanced kitchen appliances. The company’s products are sold by well-known retailers around the globe, through distributors and on its website. This wide reach could make SN stock an appealing play for ambitious investors.
In a statement released by SharkNinja, President and CEO Mark Barrocas stated the following:
“Our success lies in understanding our consumers’ needs and rapidly developing innovative products to exceed their expectations. This approach has enabled us to build two billion-dollar brands, Shark and Ninja, by establishing leadership positions across numerous household product categories. Myself, the management team, and our associates around the world are all very excited that SharkNinja, headquartered in Boston, is now a public company listed on the New York Stock Exchange.”
Does this mean that investors should be watching SN stock as SharkNinja’s debut begins to unfold? Let’s take a closer look at this newly minted stock and assess its most important attributes.
SN Stock: What to Know About SharkNinja
- Until recently, SharkNinja was part of Hong Kong-based JS Global Lifestyle (OTCMKTS:JGLCF). Shares of JGLCF are trending downward today as SN stock starts trading independently.
- The date of record for SharkNinja’s spinoff from JS Global is July 4, 2023. Seeking Alpha reports that investors who held JS Global ordinary shares “received a distribution of one SharkNinja ordinary share for every 25 ordinary shares of JS Global held by such shareholder.”
- SharkNinja is based in North America, but it has a global reach that spans across both Europe and Asia.
- The company has been leveraging artificial intelligence (AI) technology for years, implementing AI in products like its robot vacuums. SN first entered the robot vacuum space in 2017. This tech has been compared to the systems that help power self-driving cars.
- Despite its AI success, SharkNinja has faced some obstacles, recently losing a patent dispute with Roomba maker iRobot (NASDAQ:IRBT).
- SharkNinja seems to be highly focused on growth, boasting over 3,000 patents and operating in 26 markets around the world. The company’s website notes that it saw a net sales compound annual growth rate (CAGR) of 20% between 2008 and 2022.
- Earlier this year, Shark Beauty took a major step toward securing cosmetics market share by partnering with Sephora.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
