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The coronavirus pandemic has rattled the global economy and businesses continue to announce bankruptcy and close down. However, despite all odds, markets have been building on the mid-year momentum following the reopening and have been on a rally ever since. And particularly for IPOs, it has been a great year, with tech companies featuring prominently on the list of stock market debutants.
In fact, 2020 has been one of the busiest years on record for IPOs with more than 300 companies making their debut on NYSE. According to a Finance Feeds report, these companies have raised a combined $81.80 billion in market cap. The tech-heavy Nasdaq also saw one of the best years in terms of IPOs. As many as 179 companies got listed on Nasdaq through 2020, making this the best year in a decade.
Tech Companies Steal the Show
Bill Ackman’s SPAC Pershing Square Tontine Holdings, Ltd is the biggest IPO on NYSE this year, raising a whopping $4 billion. However, it was primarily a tech show with two of the biggest IPOs taking place in consecutive days when Airbnb, Inc. (ABNB - Free Report) and DoorDash, Inc. (DASH - Free Report) made their stock exchange debut in the second week of December, according to a Crunchbase News report.
Tech companies have the advantage of a bull run this year even though the broader economy has suffered badly due to the coronavirus pandemic. In fact, the tech rally continued from last year wherein Uber Technologies, Inc. (UBER - Free Report) and Lyft, Inc. (LYFT - Free Report) ranked among the top 10 U.S. tech IPOs. Uber raised more than $8 billion in its market debut in May 2019, becoming the second-biggest IPO ever.
The Show Stealers
Airbnb was one of the most-anticipated IPOs of the year and has lived up to the expectations of investors although at one point there was speculation that the company might have to push back its plans to 2021 due to the massive pandemic-related challenges faced by it.
However, the company went on to become the largest tech IPO of the year, making its debut on Dec 9. The company offered shares at $68 and on the first day of trading saw its stock more than double. The company’s share price has gone up 7% to as much as $168.25 in the first two weeks. The company already boasts a market cap of $92.5 billion and its share price ended at $154.84 on Dec 24.
DoorDash started trading just a day after Airbnb on Dec 10, raising $39 billion in market cap on debut, thus becoming one of the biggest IPOs of the year. The company has been one of the biggest beneficiaries this year, with millions confined to their homes due to the pandemic.
The company’s stock has surged a whopping 85% on debut although it has declined a bit since then. DoorDash has a market cap of $50.3 billion and its share price ended at $158.46 last week.
Snowflake Inc. (SNOW - Free Report) emerged as the largest software IPOs of all time and came under the spotlight after making a much-hyped stock-exchange debut. The company priced its shares at $120 and its stock jumped over 104% on its first day of trading, closing at $253.93.
Since then, it has been a dream run for Snowflake, with the software company now commanding $91.5 billion in market cap. The company’s shares have gained 27.2% since it started trading on Sep 16. Snowflake’s share price ended at $323.04 on Dec 24.
Palantir Technologies, Inc. (PLTR - Free Report) was another of the highly anticipated IPOs. The company went public on Sep 30 via direct listing. The company priced its shares at $7.25 each and started trading at $10. However, it closed below $10 and continued to trade below $11 for the next two months.
That said, the company made a strong comeback over the past couple of months and its shares are now trading at above $27, becoming one of the best IPOs of the year. The company has a market cap of $52.1 billion and its shares price closed at $27.75 last week. Palantir Technologies carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Unity Software Inc. (U - Free Report) has had a great year with videogame sales hitting record highs thanks to the pandemic that has compelled millions to stay indoors. Making its big-ticket stock market debut on Sep 18, the videogame software development company priced its shares at $52.
The company’s shares soared over 44% on the first day of trading and have more than tripled since then. Unity, which has a market cap of $44.7 billion, closed at $164.52 last week.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 top tickers for the entirety of 2021?
These 10 are painstakingly hand-picked from over 4,000 companies covered by the Zacks Rank. They are our primary picks to buy and hold.
Image: Bigstock
5 Top Performers of an IPO-Packed 2020
The coronavirus pandemic has rattled the global economy and businesses continue to announce bankruptcy and close down. However, despite all odds, markets have been building on the mid-year momentum following the reopening and have been on a rally ever since. And particularly for IPOs, it has been a great year, with tech companies featuring prominently on the list of stock market debutants.
In fact, 2020 has been one of the busiest years on record for IPOs with more than 300 companies making their debut on NYSE. According to a Finance Feeds report, these companies have raised a combined $81.80 billion in market cap. The tech-heavy Nasdaq also saw one of the best years in terms of IPOs. As many as 179 companies got listed on Nasdaq through 2020, making this the best year in a decade.
Tech Companies Steal the Show
Bill Ackman’s SPAC Pershing Square Tontine Holdings, Ltd is the biggest IPO on NYSE this year, raising a whopping $4 billion. However, it was primarily a tech show with two of the biggest IPOs taking place in consecutive days when Airbnb, Inc. (ABNB - Free Report) and DoorDash, Inc. (DASH - Free Report) made their stock exchange debut in the second week of December, according to a Crunchbase News report.
Tech companies have the advantage of a bull run this year even though the broader economy has suffered badly due to the coronavirus pandemic. In fact, the tech rally continued from last year wherein Uber Technologies, Inc. (UBER - Free Report) and Lyft, Inc. (LYFT - Free Report) ranked among the top 10 U.S. tech IPOs. Uber raised more than $8 billion in its market debut in May 2019, becoming the second-biggest IPO ever.
The Show Stealers
Airbnb was one of the most-anticipated IPOs of the year and has lived up to the expectations of investors although at one point there was speculation that the company might have to push back its plans to 2021 due to the massive pandemic-related challenges faced by it.
However, the company went on to become the largest tech IPO of the year, making its debut on Dec 9. The company offered shares at $68 and on the first day of trading saw its stock more than double. The company’s share price has gone up 7% to as much as $168.25 in the first two weeks. The company already boasts a market cap of $92.5 billion and its share price ended at $154.84 on Dec 24.
DoorDash started trading just a day after Airbnb on Dec 10, raising $39 billion in market cap on debut, thus becoming one of the biggest IPOs of the year. The company has been one of the biggest beneficiaries this year, with millions confined to their homes due to the pandemic.
The company’s stock has surged a whopping 85% on debut although it has declined a bit since then. DoorDash has a market cap of $50.3 billion and its share price ended at $158.46 last week.
Snowflake Inc. (SNOW - Free Report) emerged as the largest software IPOs of all time and came under the spotlight after making a much-hyped stock-exchange debut. The company priced its shares at $120 and its stock jumped over 104% on its first day of trading, closing at $253.93.
Since then, it has been a dream run for Snowflake, with the software company now commanding $91.5 billion in market cap. The company’s shares have gained 27.2% since it started trading on Sep 16. Snowflake’s share price ended at $323.04 on Dec 24.
Palantir Technologies, Inc. (PLTR - Free Report) was another of the highly anticipated IPOs. The company went public on Sep 30 via direct listing. The company priced its shares at $7.25 each and started trading at $10. However, it closed below $10 and continued to trade below $11 for the next two months.
That said, the company made a strong comeback over the past couple of months and its shares are now trading at above $27, becoming one of the best IPOs of the year. The company has a market cap of $52.1 billion and its shares price closed at $27.75 last week. Palantir Technologies carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Unity Software Inc. (U - Free Report) has had a great year with videogame sales hitting record highs thanks to the pandemic that has compelled millions to stay indoors. Making its big-ticket stock market debut on Sep 18, the videogame software development company priced its shares at $52.
The company’s shares soared over 44% on the first day of trading and have more than tripled since then. Unity, which has a market cap of $44.7 billion, closed at $164.52 last week.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 top tickers for the entirety of 2021?
These 10 are painstakingly hand-picked from over 4,000 companies covered by the Zacks Rank. They are our primary picks to buy and hold.
Start Your Access to the New Zacks Top 10 Stocks >>