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How to buy Turo (TURO) stock when it goes public

Here's everything we know so far about the Turo IPO.

Updated .
Fact checked

Turo is expected to go public soon. Here's what we know about the IPO — and how to buy Turo stock when it's available.

What we know about the Turo IPO

Turo filed a draft registration with the US Securities and Exchange Commission under the ticker symbol TURO. Not yet an official IPO, it's one of the first steps of taking a private company public.

There's no news yet about how much the stock will cost when it goes public. No date has been set for when the stock will be publicly available. The shares will be available on the New York Stock Exchange.

Turo is a peer-to-peer car-sharing marketplace that connects private car owners with travelers in need of a vehicle. Founded in 2010, Turo is available in over 7,500 cities across the US, Canada and the UK. According to the S-1 filing, it currently has 1.3 million active guests and has seen 114% year-over-year growth in users renting cars through its platform.

In 2020, Turo generated $149.9 million in net revenue, up 6% from 2019, and reported a net loss of $97.1 million, down from $98.6 million the year before.

For the first nine months of 2021, Turo reported net revenue of $330.5 million. This is up 207% from the $107.8 million reported in the same period in 2020.

But the company did see its net losses increase year over year. Turo reported a net loss of $129.3 million, compared to $51.7 million for the same period in 2020.

How to buy Turo stock when it starts trading

Once Turo goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

  1. Compare share trading platforms. Use our comparison table to help you find a platform that fits you.
  2. Open your brokerage account. Complete an application with your details.
  3. Confirm your payment details. Fund your account.
  4. Research the stock. Find the stock by name or ticker symbol – TURO – and research it before deciding if it's a good investment for you.
  5. Purchase now or later. Buy your desired number of shares with a market order or use a limit order to delay your purchase until the stock reaches a desired price.

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  • Get 1% match on contributions to a Robinhood IRA

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy Turo stock.

See how the following stocks are performing, and view details like market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield.

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