Heard on the Street: The bull market hasn’t carried over to new tech IPOs, as investors have gotten pickier
Tech companies that went public in 2019 ended the year on a rather sobering note. The question is: how long this new period of sobriety will last.
The most notable debutantes from the tech sector were left out in the cold during the market’s hot run. In a year that saw the Nasdaq jump 35%—its best performance since 2013—most tech companies that went public closed 2019 below their first-day opening prices and at least nine closed below even their IPO prices, which are carefully selected to ensure gains. These include the largest...
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