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How IPOs are Doing in the Public Markets

After reading my last post on what the decline in recently IPO’d startups means for the broader tech industry, a friend of mine encouraged me to look closer at how IPO’s in general have been performing. The answer: badly

Recent IPO performance vs S&P 500 over last year

The chart above shows how Renaissance Capital’s US IPO index (prospectus), which tracks major IPOs in US markets, has performed versus the broader market (represented by the S&P500) over the past year. While the S&P500 hasn’t had a great year (down just over 10%), IPOs have done even worse (down over 30%).

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