“Get ready for a crazy wave of IPOs. Here are the ones to watch.”
Barron’s Magazine reports that the IPO market is booming. And many more companies are expected to start trading after Labor Day.
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Last week 28 private companies filed for IPOs.
That brings the total IPO pipeline to 108 companies. And these companies plan to raise $19.9 billion from investors.
Some of these companies are small and completely undiscovered. Yet others are well-known household names.
“Shortly after Labor Day, we’re going to see a frenzy of new issues. Offerings are coming from some of the biggest private companies on Earth – Airbnb, Ant Financial, DoorDash, Asana, Snowflake, Palantir and more,” reports Barron’s.
Privately held tech companies are rushing to go public.
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The Nasdaq Composite is trading at all-time highs – despite the current pandemic. As a result, new IPOs are trading much higher.
The average IPO is up 54% in the last 90 days.
That’s more than three times greater than the 15% gain for the S&P 500.
Here are some of the biggest upcoming offerings in this IPO market and their annual sales:
- Snowflake: $265 million
- Unity Software: $542 million
- Bentley Systems: $608 million
- Palantir: $743 million
- Corsair Gaming: $1.1 billion
In addition to 108 companies in the IPO pipeline . . .
There are also hundreds of privately-held companies that have not yet filed to IPO (go here to discover the best ones).
CB Insights reports that there are 485 privately held companies known as “unicorns.” Each of these companies raised venture capital financing and is valued at more than $1 billion.
Right now, there are approximately 2,000 publicly traded stocks valued at over $1 billion.
If these unicorns all went public, they’d increase the universe of stocks by more than 25%.
That’s unlikely to happen . . . and certainly not overnight.
However, the key point is that the IPO market is red hot right now. That’s encouraging more private companies to go public.
Plus, there’s a huge backlog of private companies that could prepare to go public. The venture capital firms that financed these companies could be pushing them to go public this year.
The IPO boom of 2020 is just getting started. And it could make this the biggest year for the IPO market since 1999.
Yours in Wealth,