![]() Direct listings provide some benefits over the traditional IPO process, supporters say.Goldman Sachs, Morgan Stanley, and Bank of America advised on the listing.Roblox went public on the New York Stock Exchange on March 10 via a direct listing.Shares in restaurant chain Cava Group have more than doubled from the IPO price of $22 per share since its market debut June 15.Īnother restaurant operator, GEN Restaurant Group, has a 57.7% return relative to its IPO price since its debut June 28.Account icon An icon in the shape of a person's head and shoulders. ![]() Shares in several companies that have gone public in recent weeks have posted large returns relative to their initial offering price. “Companies are able to go public at higher valuations and investors are making money.” “That’s been a great backdrop,” Kennedy said. The job market in particular has remained resilient, despite the Federal Reserve’s pushing interest rates sharply higher to slow the economy in hopes of dragging down inflation.Īnother reason for the market’s tear is traders betting that the Fed will be done with rate hikes after this month, when the central bank is expected to hike them one last time.ĭespite a still below-average number of IPOs, the stock market rally has helped boost returns for investors in the companies that have gone public more than twofold over last year. The market has rebounded this year in part because the economy has defied many predictions of a recession, at least so far.
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