Wealthfront Corporation, trading under the symbol NASDAQ:WLTH, is making waves in the fintech industry with its recent public offering. The company is offering 34.6 million shares at $14 each. Wealthfront is known for its automated digital wealth management services, which have attracted a substantial client base of 1.3 million users. Despite its strong growth and profitability, Wealthfront faces challenges. The fintech sector has low entry barriers, which could lead to increased competition. Alan Imberman, ...

Dec 2 (Reuters) - Automated digital wealth management firm Wealthfront is targeting a valuation of ​up to $2.05 billion in its U.S.‌ initial public offering, it said on Tuesday, becoming the latest to ‌test a trend of strong investor appetite for fintech listings. The Palo Alto, California-based company plans to raise as much as $485 million by selling 34.6 million shares, including stock offered ⁠by existing shareholders, ‌at a price range of $12 to $14 each. The U.S. IPO market has recovered after ‍a s ...