A stampede of companies have filed to go public in recent days, as they look to take advantage of a rapid recovery in U.S. capital markets, in a flurry of activity reminiscent of the heady days of the dot-com boom of 1999.
That number is set to surge as companies race to make their market debuts to raise capital, months after the coronavirus pandemic played a significant role in declining IPO activity. Last year, Slack Technologies WORK, +2.05%, the owner of a popular workplace instant messaging app, also chose a direct listing, and saw its shares surge nearly 50% in their public trading debut, valuing the company at more than $23 billion. Music-streaming company Spotify Technology SPOT, -2.25% also opted for a direct listing in 2018.
Shanghai’s technology focused STAR Market ranks as the second most popular IPO venue so far during 2020, with $13.9 billion.
As soon as they launch, that's when everything is going to hit the fan
Underreported kleptofascism when the Federal Bank makes a covert campaign donation to Donald J Trump in the form of 3 trillion dollars worth of corporate bonds, to increase the buoyancy of the stock market & detach it from the reality of the collapsing economy. BidenHarris2020
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