IPO pops are nearing 10-year highs, and tech is leading the way

In the lead-up to its public offering, tech unicorn Figma (FIG) priced its shares at $33. When the stock closed its first trading session on July 31, the share price had rocketed up to $115.50 — 250% above where the company priced the stock. Just two months earlier, stablecoin infrastructure operator Circle Internet Group (CRCL) priced its IPO at $31 and then closed its first day, June 5, at $83.23, marking a more than 165% increase. These IPO "pops" are getting bigger, and tech is leading the way Throu ...