Group 1 - Figma priced its shares at $33 and closed its first trading session at $115.50, a 250% increase [1] - Circle Internet Group priced its IPO at $31 and closed at $83.23, marking a 165% increase [1] - The average first-day performance of IPOs in the first half of 2025 was 27.5%, just below the high of 29.2% in 2021 and nearly double the 15% from the previous year [1] Group 2 - The tech sector has seen the largest average first-day hike at 36.3% on the NYSE over the past year [2] - 41% of tech IPOs opened above their expected range, the second-highest concentration after consumer goods [2] - More traditional sectors like materials and consumer services have mostly seen IPOs open within their expected price range [2] Group 3 - Figure Technologies debuted with a 44% delta between its IPO price and opening mark but lost some gains by the end of the session [3] - Tech offerings have raised over $13.5 billion this year, the highest amount among all sectors [3] Group 4 - The tech sector's dominance in IPO pops is attributed to the difficulty in valuing rapidly growing companies in new markets [4] - Rapid adoption and potential market size have made crypto-related fintech issues popular among investors, as seen with Bullish's IPO performance [4]
IPO pops are nearing 10-year highs, and tech is leading the way