“Based on the terrible public market performance of Uber and Lyft, you might think it’s been a bad year for tech IPO investors.
But if you treat every offering equally, IPOs have been a lucrative bet.
Looking at a basket of 13 venture-backed tech IPOs this year, including Slack’s direct listing, eight stocks are in the black. If you’d put $1 million into each of them at the IPO price, your $13 million initial investment would be worth $21.7 million — a 67% gain. That calculation follows the debut of cloud security company Cloudflare, which jumped 20% in its first trading day on Friday.” [Read More]… (CNBC, September 04, 2019)