The IPO Buzz: Chime (CHYM) Jumps 59.3 Percent in its NASDAQ Debut

“Ring My Bell” indeed. Chime Financial (CHYM) surged at its opening trade to $43.00 – up $16.00 for a gain of 59.26 percent when it started trading at 12:49 p.m. EDT today – Thursday, June 12, 2025 – on NASDAQ. Volume was about 3.09 million shares. Chime’s stock has given up some ground since then to trade slightly above its $38.00 session low at $38.94 – up $11.94 – at around 1:20 p.m. EDT. Volume so far is now at around 21.63 million shares. Chime’s stock has swung from its intraday high of $44.94 to a session low of $38.00. The NASDAQ debut of Chime – a long-awaited FinTech  IPO – marks the third successful IPO this week among the $100 million-and-up class – following the strong NYSE debuts yesterday (Wednesday, June 11, 2025) of Voyager Technologies (VOYG) and Ategrity (ASIC). Chime Financial (CHYM) priced its long-awaited IPO at $27.00 – $1.00 above the top of its $24.00-to-$26.00 range – and sold 32 million shares – the number of shares in the prospectus – to raise $864 million on Wednesday night, June 11, 2025. At pricing, Chime has a market cap of about $9.84 billion. Chime’s stock is expected to start trading tomorrow – Thursday, June 12, 2025 – on NASDAQ. Morgan Stanley, Goldman Sachs and J.P. Morgan were the lead joint book-runners. Chime is a San Francisco-based FinTech platform that partners with two U.S. banks – The Bancorp Bank and Stride Bank – to serve a membership clientele of “everyday Americans” earning $100,000 a year or less. Fifty-five percent of Chime’s members are female and the average age is 36, although its members “range from young adults to those over 60,” the prospectus said. SoFi and PayPal are considered to be among Chime’s competitors. Chime had “8.6 million Active Members, with 67 percent of them relying on Chime to serve as their primary financial relationship as of March 31, 2025,” the prospectus said. “In the first quarter of 2025, our Active Members used Chime for 54 transactions per month, on average, of which 75 percent were purchase transactions using Chime-branded debit and credit cards. Seventy percent of purchase transactions are for non-discretionary expenses made in categories such as food and groceries, gas, and utilities.”  For the full year 2024, Chime reported a net loss of $25.34 million on revenue of $1.67 billion.