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How to buy Innoviz Technologies (INVZ) stock in New Zealand when it goes public

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

Innoviz logo

Innoviz Technologies is an Israeli company that develops LiDAR sensors for self-driving cars. The company is expected to go public via a merger with Collective Growth Corporation, a special purpose acquisition company (SPAC).

Innoviz will be listed on the NASDAQ, a US stock exchange, under the ticker symbol INVZ. If you want to buy in from New Zealand, you’ll need to find a brokerage that provides access to US stocks.

Note: all dollar amounts on this page are in US dollars unless otherwise stated.

Will I be able to buy Innoviz shares from New Zealand?

To buy shares un Innoviz, you’ll need a brokerage that provides access to the NASDAQ, the stock exchange on which Innoviz stocks will be traded.

Some of New Zealand online trading platforms that provide access to US-listed stocks include Stake, Hatch and Sharesies.

The process of buying stocks in a US company while living in New Zealand is now very similar to buying stocks in NZ company. You buy and sell using your online trading account or through an investment broker who handles US stocks.

How to invest in US stocks from New Zealand

What we know about the Innoviz Technologies IPO

LiDAR technology company, Innoviz Technologies, is planning to go public through a merger with a special purpose acquisition company (SPAC), also known as a blank check company. SPACs are companies with no commercial operations that exist purely to raise capital through IPOs. No date has been announced yet.

The SPAC, Collective Growth Corporation, originally went public in 2019. After the merger, the company will trade on the Nasdaq under the ticker “INVZ.”

How to buy shares in Innoviz Technologies when it goes public

Once Innoviz Technologies 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. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Innoviz Technologies. Find the stock by name or ticker symbol: INVZ. Research its history to confirm it’s a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Innoviz Technologies reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimise risk through the market’s ups and downs. You may be able to buy a fractional share of Innoviz Technologies, depending on your broker.
  6. Check in on your investment. Optimise your portfolio by tracking how your stock — and the business as a whole — performs in the long run. You may be eligible for dividends and shareholder voting rights on management decisions that can affect your stock.

How do similar companies perform?

It’s impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Innoviz Technologies can be useful in determining how the market is performing and whether now is a good time to invest in this industry.

Here’s how similar companies have performed:

Veoneer, Inc. (NYSE: VNE) designs and manufactures electronic safety systems and brakes for vehicles. Its products include software and equipment to support highly automated driving (HAD) and autonomous driving (AD). The Swedish-based company began trading on the NYSE and the NASDAQ Stockholm in 2018 with an initial share price of $40.05. Veoneer’s market capitalisation is over $2.3 billion. In September, 2018, Veoneer’s stock price hit a high of $55.07.

ON Semiconductor Corporation (NASDAQGS: ON) manufactures and sells semiconductor components for electronic devices. The company deals with original equipment manufacturers, distributors, and electronic manufacturing service providers. It operates in 3 main segments: Power Solutions Group (PSG), Advanced Solutions Group (ASG), and Intelligent Sensing Group (ISG). In 2000, ON Semiconductor Corp. began trading on the NASDAQ with an initial share price of $16. Its stock hit a high of $56.35 in September, 2018.

NVIDIA Corporation (NASDAQGS: NVDA) is a global visual computing company that designs GPUs (graphics processing units) and SoC (system on a chip) units. It creates products for gamers, professionals, the automotive market and the mobile computing industry. In 1999, NVIDIA Corporation went public on the NASDAQGS with an initial share price of $19.69. Its stock hit a high of $582.48 in November, 2020.

Compare trading platforms that provide access to US stocks

Name Product Available Investment Types Min. Monthly Fee Currency Conversion Fee Available Markets
Hatch
Shares, ETFs
$0
0.5%
NASDAQ, NYSE
Invest in more than 4,100 US companies and exchange-traded funds (ETFs). No minimum investment or monthly fees.
Stake
Shares, ETFs
$0
1% ($2 min)
NASDAQ, NYSE, BATS, Chicago Stock Exchange, and more
Sign up through Finder and use referral code "FINDERNZ" for a free stock. Trade more than 3,800 US-listed stocks and ETFs through Stake with $0 fees on trades.
Sharesies
Shares, ETFs, Managed Funds, Index Funds
$0
0.4%
ASX, NASDAQ, NYSE, NZX, CBOE
Trade and invest in more than 3,000 companies, ETFs and managed funds across New Zealand, the US and Australia.
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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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