Following the success of this week’s bumper listing gains by Astera Labs (NASDAQ:ALAB) and Reddit (NYSE:RDDT), things are beginning to look good in the IPO market.
Strong Debut
Earlier this week, semiconductor connectivity solutions provider Astera Labs (NASDAQ:ALAB) made its debut on the Nasdaq, yielding gains of nearly 73%. Despite pricing the IPO at $36 per share, Astera’s shares opened at around $52.56 on Wednesday and currently stand at $65.95 in early trading today. Astera is backed by Intel (NASDAQ:INTC) and caters to leading names such as NVIDIA (NASDAQ:NVDA) and AMD (NASDAQ:AMD).
Concurrently, social media company Reddit (NYSE:RDDT) saw its shares surging to over $57 before closing nearly 48% higher yesterday, propelling Reddit’s market capitalization to approximately $9.5 billion. These bumper gains follow recent listings of chip maker Arm Holdings (NASDAQ:ARM), delivery services provider Maplebear (NASDAQ:CART), and technology company Klaviyo (NYSE:KVYO). According to Bloomberg, U.S. IPOs have collectively raised over $7.9 billion this year.
Boosting IPO Prospects
Now, the bumper gains could boost the prospects of other entities waiting to be listed. These entities include cybersecurity player Rubrik and healthcare payments solutions provider Waystar. According to market speculations, other top contenders such as Stripe and Databricks might delay their debut on public markets for another year.
Importantly, while Astera and Reddit are benefiting from being early movers, the Federal Reserve’s stated plan for three rate cuts this year could further pique investor interest in upcoming IPOs in the months ahead.
How To Find New IPO Stocks?
Keeping track of all IPOs can be overwhelming for investors. The TipRanks IPO Calendar effectively simplifies this task. For savvy investors, here are the top recently priced and upcoming IPOs this month.
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