IPO Performance Breakdown
Overview:
The U.S. IPO market has seen a resurgence over the past couple of years, marked by high-profile listings and strong investor sentiment. These IPOs, spanning diverse industries such as technology, healthcare, and consumer goods, reflect a renewed appetite for equity risk amidst changing economic dynamics. Below is a detailed breakdown of recent IPOs, including when they came to market and how they’ve performed since their debut:- ARM Holdings
- IPO Date: September 2023
- Amount Raised: $4.87 billion
- Valuation at IPO: $54.5 billion
- Opening Day Performance: Shares rose 10%
- Current Performance: Nearly 200% gain
- Instacart (Maplebear Inc.)
- IPO Date: September 2023
- Amount Raised: $660 million
- Valuation at IPO: $9.9 billion
- Opening Day Performance: Stock popped 40%
- Current Performance: 8.2% higher
- Viking Holdings
- IPO Date: April 2024
- Amount Raised: $1.54 billion
- Valuation at IPO: $10.35 billion
- Opening Day Performance: Shares opened 9% above offer price
- Current Performance: 86% gain
- StandardAero
- IPO Date: October 2024
- Amount Raised: $1.44 billion
- Valuation at IPO: $8 billion
- Opening Day Performance: Shares opened 29% above offer price
- Current Performance: 13.22% decline
- Lineage
- IPO Date: July 2024
- Amount Raised: $4.45 billion
- Valuation at IPO: $18 billion
- Opening Day Performance: Stock gained 5%
- Current Performance: 25.6% decline
- Reddit
- IPO Date: March 2024
- Amount Raised: $748 million
- Valuation at IPO: $6.4 billion
- Opening Day Performance: Stock opened 38% above offer price
- Current Performance: Over four-fold increase
- Birkenstock
- IPO Date: October 2023
- Amount Raised: $1.48 billion
- Valuation at IPO: $9.3 billion
- Opening Day Performance: Shares debuted 11% below IPO price
- Current Performance: 43% gain
- Zeekr
- IPO Date: May 2024
- Amount Raised: $441 million
- Valuation at IPO: $5.5 billion
- Opening Day Performance: Opened 24% above IPO price
- Current Performance: 3% decline
- Kenvue (J&J Consumer Health Unit)
- IPO Date: May 2023
- Amount Raised: $3.8 billion
- Valuation at IPO: $48 billion
- Opening Day Performance: Opened 16% above offer price
- Current Performance: Nearly 19% decline
- Waystar
- IPO Date: June 2024
- Amount Raised: $968 million
- Valuation at IPO: $3.7 billion
- Opening Day Performance: Opened 2% below IPO price
- Current Performance: 80% gain
Highlights:
- The IPO market's performance is indicative of improving investor sentiment, driven by lower interest rates and the return of a business-friendly administration.
- Success stories like ARM Holdings and Reddit demonstrate how tech-centric IPOs have resonated strongly with investors, while companies like Lineage and Kenvue have faced challenges due to sector-specific headwinds.
- 2025 is anticipated to bring even more major IPOs, with companies like Klarna and Chime expected to headline the market.