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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.

Turo IPO date and ticker symbol

Turo IPO date is to be announced. The company ticker symbol or stock code is TURO.

Turo is a car-sharing marketplace serving customers in the United States, United Kingdom, Canada, Australia and France. It's often called the Airbnb for cars. It's a competitor to traditional car-sharing services with some rentals as cheap as $26 per day. The company, founded in June 2010, fares well with customers and boasts a 4.5 rating on Trustpilot.

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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Latest updates for Turo IPO

October 8, 2024: The Duluth Airport Authority (DAA) announced last Tuesday that Turo is coming to Duluth. Starting in October, Duluth residents and visitors will be able to rent from a selection of nearby vehicles shared by local vehicle owners, according to Northern News Now.

October 2, 2024: Legislation to regulate car-sharing is being considered in Lansing, Michigan, specifically around authorizing peer-to-peer car-sharing programs to purchase necessary insurance to ensure coverage for shared vehicle drivers and shared vehicle owners, according to WSJM News.

September 17, 2024: Several analysts have maintained a ‘Buy’ rating on Uber, including Truist Securities and BTIG, with the latter specifically highlighting Uber’s strategic partnership with Turo, according to Investing.com.

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.

Triller filed an S-1 in August 2023, seeking to directly list on the New York Stock Exchange. It filed for a listing of its Class A common stock stating $380 million in capital with 550 million users. The company boasted $48 million in revenue in 2022.

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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