Renaissance Capital logo

CHWY News

The 2020 IPO market is now up 43% from its lows, a promising sign for May

ZM

IPOs are leading the stock market's recovery. The Renaissance IPO Index has soared 42.6% from its mid-March low, compared to a 28.9% rebound for the S&P 500. The IPO Index, which is composed of the largest and most liquid IPOs over the past two years and tracked by the IPO ETF (NYSE: IPO), closed Monday...read more

Is the IPO market the pathway out of the forest?

ETF

There is no better beacon of light for a path out of the tangled forest created by the Covid-19 virus than the ingenuity of the American people. It’s expressed in businesses large and small quickly transforming themselves into producers of PPE and the overnight migration of American finance from Wall Street to living rooms. It’s also expressed intensely in the IPO market...read more

US IPO Weekly Recap: Three IPOs pop more than 50% as investors go gaga for growth

CRWD

Four companies raised a combined $1.8 billion in the public markets this week, with three posting first-day returns greater than 50%. CrowdStrike Holdings (CRWD), a provider of cloud-native endpoint security software for large enterprises, raised $612 million by offering 18.0 million shares at $34, 62% above its original midpoint. That is the largest price...read more

Chewy prices upsized IPO at $22, above the upwardly revised range

CHWY

Chewy, the largest US online retailer of pet food and supplies being spun out of PetSmart, raised $1.0 billion by offering 46.5 million shares (88% insider) at $22, above the range of $19 to $21. Chewy plans to list on the NYSE under the symbol CHWY. Morgan Stanley, J.P. Morgan, Allen & Company, BofA Merrill Lynch, Barclays, Jefferies, RBC Capital Markets, UBS Investment Bank...read more