Renaissance IPO ETF (NYSE:IPO)

•  Renaissance IPO ETF (NYSE:IPO)

IPO, monthly 

Nasdaq 100's rebound fails to carry over to IPOs, SPACs

Nasdaq’s biggest companies are close to completing an eight-week reversal that newly public U.S. companies can only wish for. The Nasdaq 100 Index’s close Thursday was just 0.4% away from a record set on Feb. 12. Initial public offerings have been left behind, as the Renaissance IPO Index trailed its Feb. 12 record by 15%. So have special purpose acquisition companies, as the Indxx SPAC & NextGen IPO Index was down 23% from a high on Feb. 16. SPACs were “the one area of excess to show no sign of recovery at quarter end,” Michael Shaoul, Marketfield Asset Management LLC’s chief executive officer, wrote Thursday in a report comparing the three indexes.

Doordash, C3.ai are seen following U.S. IPO, SPAC excess

Surges in Doordash Inc. and C3.ai Inc. on the first day of trading were in keeping with rising speculation for U.S. stock investors, according to Jonthan Krinsky, chief market technician at Bay Crest Partners LLC. Krinsky cited the Renaissance IPO and IPOX SPAC indexes in a report Wednesday. Renaissance Capital LLC’s gauge of initial public offerings rose 32% from a late-October low through Tuesday. In a similar period, IPOX Schuster LLC’s index of current and former blank-check companies climbed 40%. The IPO index fell 3.2% Wednesday even as Doordash gained 86% and C3.ai jumped 120%. The SPAC index rose 0.3%.

 

SPACs, target companies are left behind as U.S. IPOs rise

U.S. companies along an alternative route to going public are being left by the wayside. The IPOX SPAC Index, tracking special-purpose acquisition companies and the businesses they make deals with, shows as much. The index retreated 8.4% through Tuesday from a peak on Sept. 18, according to data compiled by Bloomberg. Companies that chose initial public offerings over the blank-check route rose 12% in the same period, according to the Renaissance IPO Index. The SPAC slump followed “a bit of froth,” Jonathan Krinksy, chief market technician at Bay Crest Partners LLC, wrote Tuesday in a report.

U.S. IPOs are a long way from reaching extremes of 2000

U.S. initial public offerings are a long way from the extreme gains recorded 20 years ago, according to Ari Wald, Oppenheimer & Co.’s chief technical analyst. Wald cited the performance of a composite IPO index, derived from indicators compiled by Bloomberg and Renaissance Capital LLC, in a report Saturday. The composite index’s advance over 250 trading days, or about a year, peaked last week at 88%. Readings in March 2000 topped 300%. Wald recommended buying an exchange-traded fund that tracks the Renaissance index in August.

** 2 years later, monthly chart ***

• Renaissance IPO ETF (NYSE:IPO)

U.S. IPOs are seen as worth buying after five-month surge

Shares of U.S. initial public offerings are showing meaningful strength after a five-month surge, according to Ari Wald, Oppenheimer & Co.’s chief technical analyst. Wald recommended buying an exchange-traded fund that tracks the Renaissance IPO Index in a report Sunday. Renaissance Capital LLC’s index more than doubled from a March 18 low through Monday, according to data compiled by Bloomberg, as the Russell 3000 Index rose 45%. The IPO gauge consists of companies that have gone public during the past two years.

U.S. IPO rebound brings record-setting show of strength

 

Shares of newly public U.S. companies are showing unprecedented strength. The Renaissance IPO Index closed Wednesday at the highest level since its 2009 inception relative to the Russell 3000 Index, according to data compiled by Bloomberg. Renaissance Capital LLC’s gauge, tracking companies that made initial public offerings during the past two years, also set a record for the third straight day. The index had lost 38% in four weeks during February and March. “Few things represent the market’s zeitgeist more than the IPO market,” Renaissance Macro Research LLC wrote Wednesday in a Twitter post.

Domino's rivals Alphabet, Salesforce in IPO class of 2004

Domino’s Pizza Inc. might as well be a technology company, judging by its stock performance. Shares of the restaurant owner returned 5,370% from their debut in July 2004 through Thursday, according to data compiled by Bloomberg. The total return, reflecting price changes and dividends, surged Thursday when the stock rose by a record 26% in response to fourth-quarter results. Domino’s delivered more for investors than Alphabet Inc., Google’s owner, which went public about five weeks later -- and approached the return on Salesforce.com Inc., a business-software maker that debuted three weeks earlier.

Peloton's drop reflects out-of-shape market for U.S. IPOs

Peloton Interactive Inc.’s 11% loss Thursday, when the exercise-bike maker started trading, fit into a pattern of weakness for U.S. initial public offerings. The Renaissance IPO Index of companies that have gone public in the last two years fell 14% through Thursday from a record set July 26. Along the way, the indicator’s ratio to the S&P 500 Index dropped below its level in June 2009, when the IPO gauge was first calculated. Investors are “likely to be much more selective” as companies go public, Michael Shaoul, Marketfield Asset Management LLC’s chief executive officer, wrote Thursday in a report.

U.S. IPOs outperform FAANG stocks this year

Newly public U.S. companies have supplanted the FANG stocks and their technology peers as market leaders this year, according to Chad Brand, founder and president of Peridot Capital Management LLC. Brand noted the shift toward initial public offerings in a post Friday on his blog, the Peridot Capitalist. The Renaissance IPO Index is headed for the biggest first-half gain in its decade-long history after climbing 39% through Wednesday. The NYSE FANG+ Index, consisting of 10 of the largest technology companies, only gained 14%.

Pinterest, Zoom Video extend U.S. IPOs' show of strength

Surges in Pinterest Inc. and Zoom Video Communications Inc. last week on their first day of trading reinforced this year’s strength in shares of newly public companies. The Renaissance IPO Index, which consists of initial public offerings within the past two years, posted a year-to-date gain of 29 percent through Friday. The S&P 500 only rose 16 percent during the same period. This year’s performance amounts to a reversal for IPOs. Their index trailed the S&P 500 in four of the past five years, according to data compiled by Bloomberg.

Domino's beats Google's owner 12 years after IPOs

Domino’s Pizza Inc. has proven to be more rewarding for investors than Alphabet Inc., owner of the Google search service, since their initial public offerings in the third quarter of 2004. Domino’s delivered a total return of 2,167 percent through Tuesday, according to data compiled by Bloomberg. Dividends accounted for more than half of the return. Alphabet’s Class A shares, which don’t pay a dividend, returned 1,931 percent.