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Bright Green to flashing red: 2022's first direct listing plummets after explosive early trading

BGXX

Last month, early-stage US cannabis producer Bright Green (BGXX) completed the first direct listing of 2022, and began trading on the Nasdaq at a market cap of more than $1 billion. Despite registering nearly 100% of its shares, Bright Green has traded like the often low float, “pop-and-drop” IPOs that have become commonplace this year. The company...read more

Climb high, fall hard: Recent IPOs have tumbled from their 2021 highs

VRM

2022 IPO activity has been weighed down by poor returns and volatility, grinding to a halt in late February. Many of the best-performing IPOs in recent years have been hit hardest by the recent sell-off. Over two thirds of IPOs since 2019 (530 of 775) are down 50% or more from their 52-week highs. Now that the sky-high prices of last year’s IPO boom have come back down to...read more

Customer engagement IPOs continue to roll out in 2021

BRZE

Customer engagement has been a common buzzword in the 2021 IPO market. A dozen issuers have sold investors on the roles of digital transformation and personalization in the changing marketing landscape, and two more are making their pitches this week. Braze (BRZE) and UserTesting (USER) are the latest to jump on the IPO trend. Both companies...read more

US IPO Weekly Recap: The IPO market can see clearly now in a 4 IPO, 2 direct listing week

WRBY

The IPO market remained active this past week as four IPOs raised $2.3 billion, joined by two direct listings. SPAC activity kept steady with nine blank check IPOs. New filers continue to pour into the IPO pipeline, with 17 IPOs and 10 SPACs submitting initial filings. NYSE direct listing Warby Parker (WRBY) opened for trading at $54 (+35% vs. reference price)...read more