At 7-8.5x sales, Chime Financial, Inc. is richly valued versus peers like SoFi. Click for why I see potential, but would wait for a significant CHYM price pullback.

Chime Financial experienced a stellar Nasdaq debut, with shares surging by 59%, valuing the company at $18.4 billion. The successful IPO holds potential to rebuild confidence in the fintech industry and may pave the way for other high-growth firms to consider public listings.

Financial technology company Chime said on Wednesday it raised $864 million in its initial public offering after pricing shares at $27 each.