If there is one thing I have learned about investing over the years, it is this: nobody can predict the future. What distinguishes the best companies — and makes their shares a good investment — is their ability to act quickly and effectively when the unexpected happens.
Usually private investors lack compelling evidence that a company can adapt to such seismic change. An exception to that rule is Boston restaurant-tech purveyor Toast which on August 27 filed for an IPO. I see three reasons to buy shares in Toast:
- It’s growing fast in a large market
- It adapted with agility to the pandemic
- Its management team and culture bode well for future growth
Toast’s Business And IPO Filing
Toast — which sells “payment-processing tablets and handheld devices and cloud-based software for restaurants to manage orders, payroll, and marketing” — was founded in 2011.
Toast aims to make life easier for a restaurant’s stakeholders. As co-founders Aman Narang, Steve Fredette, and Jonathan Grimm wrote in the prospectus, “Running a restaurant is tough. We started Toast to make restaurant work a little easier.”