The IPO market got a bit of a black eye earlier this year after the over-hyped, underperforming Facebook offering. But it appears to be coming back to life now. Yesterday there were four brand-new stocks that came to the market, and all four of them increased by more than 20 percent right out of the box.
If you lived through the dot-com-mania of the late 1990s, that might not seem so impressive. But according to research done by Dealogic, there haven't been four IPOs with that kind of pop on the same day in 12 years.
The big four are:
Shutterstock, up 29 percent
Intercept Pharmaceuticals, up 26 percent
Realogy, up 23 percent
Kythera Biopharmaceuticals, up 20 percent
And lest you think these are all microcaps, the Realogy offering raised $1 billion, making it the third-largest IPO of 2012.
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