Summary: Turo is a private peer-to-peer carsharing company, so its stock is not available for direct purchase. However, investors can still gain exposure to the industry by investing in IAC, Turo’s parent company, or some other carsharing companies listed on the stock exchange. In this guide, you will learn how to buy Turo stock alternatives on an online stock trading platform such as eToro.
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About Turo
Turo is a carsharing platform offering access to a diverse array of vehicles from trusted hosts spanning the US, UK, Canada, Australia, and France. Founded in 2009 and backed by over $450 million from investors like Kleiner Perkins, Canaan Partners, August Capital, and GV, the company provides a platform where car owners can list their vehicles for rent, set their own prices, and specify availability.
How to buy Turo stock: Step-by-step
Since Turo is not a publicly traded company, its stock is not available for purchase. Instead, you will have to invest in IAC (NASDAQ: IAC), Turo’s parent company, or some publicly traded alternative companies in the carsharing industry, such as:
- Uber (NYSE: UBER): Uber is a transportation network company that connects users with drivers of vehicles for hire, offering services including ridesharing, food delivery, and delivery. It is the most recognizable company of its kind;
- Getaround (NYSE: GETR): Getaround is another peer-to-peer carsharing platform that lets users rent out their personal vehicles to others on an hourly or daily basis. The platform aims to reduce the need for car ownership and promote sustainable transportation options, which makes it a solid ESG investment option;
- Stellantis (NYSE: STLA): Stellantis is known as the owner of renowned brands like Ram, Jeep, and Dodge. However, it is also the owner of Share Now, a German carsharing company formed from the merger of Car2Go and DriveNow.
You can buy shares in carsharing companies through an online investing service in a few simple steps:
- Find a broker: Find a brokerage platform that lists your desired shares;
- Register and fund your account;
- Place a trade: Find the desired stock on the broker’s platform and place a trade;
- Monitor your investment.
Step 1: Choose a broker
To access the stock market and buy carsharing stocks, you have to find a reliable, licensed brokerage platform.
To buy charing stocks safely and conveniently, we recommend eToro, a leading investment platform with features such as:
- Commission-free stock and ETF trading;
- 2,000+ stocks from 17 exchanges;
- Fractional shares available;
- Charting tools;
- User-friendly platform.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
Step 2: Open and fund your account
When you find a suitable brokerage, you can register and verify your trading account. The registration process is simple, and the brokerage will provide precise instructions and explain how to go through its know-your-customer (KYC) process.
Once your account has been verified, you can deposit funds into it. Funding methods typically include bank transfers, debit or credit cards, and third-party transaction services like PayPal.
Step 3: Place your order
Finally, you can place an order and buy Turo stock alternatives:
- Step 1: Log into your brokerage and find your desired stock;
- Step 2: Type in the dollar amount or the number of shares you want to buy;
- Step 3: Select the order type (market order or limit order);
- Step 4: Confirm the trade order.
Step 4: Monitor your investment
Adding shares to your investment portfolio requires that you carefully monitor their performance. That entails staying informed about changes in the industry and user sentiment. Staying in touch with all relevant developments enables you to make more accurate predictions regarding fluctuations in stock prices.
Moreover, diversifying your portfolio by investing in other assets is advisable. This approach reduces dependence on the performance of a single financial instrument. Of course, should the need arise and analysts concur that selling shares is advisable, be prepared to take action.
Common mistakes to avoid when investing
Stock investments are inherently risky, so try to avoid some common investing mistakes, such as:
- Lack of research: Failing to thoroughly research the company before investing can lead to losses;
- Emotional investing: Letting emotions and the fear of missing out drive investment decisions can result in impulsive, unprofitable decisions;
- Lack of diversification: Putting all your money into a single investment increases your risks if said investment performs poorly;
- Ignoring taxes: Failing to consider tax implications can result in unnecessary liabilities.
Pros and cons of investing in carsharing stocks
Pros
- Growth potential: Carsharing services are seeing significant growth due to urbanization and growing preferences for shared mobility;
- Environmental benefits: Carsharing reduces the number of vehicles on the road, leading to lower carbon emissions, which aligns with ESG investment goals;
- Diversification: Investing in carsharing stocks can diversify a portfolio, especially if you’re interested in the transportation sector.
Cons
- Market competition: The carsharing industry is highly competitive, with numerous companies such as Uber and Stellantis going head-to-head;
- Regulatory challenges: Carsharing companies can face regulatory challenges related to licensing, insurance, etc.;
- Infrastructure limitations: The success of carsharing relies on adequate infrastructure. If the company operates in areas where the infrastructure is subpar, it may suffer losses.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy Turo stock
Is Turo in the stock market?
No, Turo is not a publicly traded company.
Who owns Turo?
Turo is owned by IAC (NASDAQ: IAC).
What is Turo stock symbol?
Turo doesn’t have a stock symbol.
What is Turo’s current valuation?
Turo is currently valued at $1.25 billion according to PitchBook
How do I buy Turo stock?
Turo is not a publicly traded company, so you cannot buy its stock. Instead, you will have to invest in its parent company, IAC, or some other company in the carsharing industry whose stock is available on investment platforms such as eToro.
Where to buy Turo stock?
Turo stock is not available for purchase, but you can buy shares in its parent company, IAC, or some of its competitors listed on the stock exchange and available for purchase on stock trading platforms such as eToro.
Will there be a Turo stock IPO?
There are rumors of a potential IPO in 2024.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
