The IPO Party Is Cut Short
The third quarter started off in high spirits but ended with a hangover. During the quarter, 39 deals raised $10.8 billion, down slightly from last year, but above the historical average. Healthcare and tech companies again dominated IPO issuance. Software unicorns confirmed that there is still demand for high-growth tech stocks. On the other hand, the two largest offerings were both high-growth, high-profile disappointments.
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