All 12 companies have increased in value since they started trading. The largest increase was Schrodinger Inc. (229.7%), followed by BigCommerce Holdings Inc. (212.3%) and nCino Inc. (143.7%). Shares in Snowflake, the year’s largest U.S. technology IPO, has doubled from its offer price of $120 per share.
The number dollar value of IPOs hit a new all-time high this year. That tells us a lot about the ability of low interest rates and abundant liquidity to boost asset prices. That’s particularly true for private assets since there is no mark to market value. Profitability is habitually somewhere out in the future for many new companies so the early investors are taking the opportunity to sell in IPOs before that issue becomes pressing.Click HERE to subscribe to Fuller Treacy Money Back to top