IPOs overall beat the market this year despite some 'mega busts'

Mega IPOs Lyft and Uber are down more than 30% since their listings. But overall, 2019 was a solid year for initial public offerings.

"Beyond these headline-grabbing disappointments, the IPO market had a mostly good year," say Kathleen Smith, principal at Rennaisance Capital. Renaissance Capital's IPO Index, a basket of newly public companies, is up 33% this year compared to a 29% rise in S&P 500. More than half of newly listed companies were trading above their issue price at the end of the year, compared to about 40% last year, according to Renaissance Capital, which provides institutional research and IPO ETFs.

"There's still appetite for companies that show a business model and that it can be profitable," she said.

Fall 2018- fall 2019, the year of IPO scam pumps.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman sees one of its portfolios for clients tripling the return of the market next yearThe bank is recommending clients stocks with high Sharpe ratios, a measure of a stock's performance relative to its volatility. Every billionaire created also creates thousands of homeless Americans
Source: CNBC - 🏆 12. / 72 Read more »

Stock market investing strategy of fund managers who beat 97% of peers - Business InsiderA pair of fund managers beat 97% of their peers this year without picking a single stock. They gave us a peek into their unique strategy, and explained how they profit even during sell-offs. I like the progress
Source: BusinessInsider - 🏆 729. / 51 Read more »