- Several of 2019's largest initial public offerings are badly trailing the broader stock market as investors start to shy away from high-risk companies.
- Eight IPOs have raised more than $1 billion this year, but it looks like the parade into markets could be slowing down as some newly public companies struggle to stay above their offer prices.
- Here's how every IPO larger than $1 billion has performed so far in 2019.
The IPO market has had a bumpy few weeks.
Over the last month, two billion-dollar initial public offerings have flopped, Uber and Lyft continued to sink below their offering prices, and both WeWork and Endeavor postponed their listings. IPO proceeds also slowed more than 50% in the third quarter, compared to the prior period.
The Renaissance Capital IPO ETF - which tracks a basket of newly-public companies - has shed more than 8% over the last month. Still, the fund up about 19% year-to-date.
Investors appear to growing more skeptical of high-risk, high-growth companies with uncertain paths to profitability.
Despite the seemingly-dire outlook for IPOs, 2019 has still seen eight companies raise more than $1 billion through new listings.
Here's how every IPO larger than $1 billion has performed so far this year, according to data from Dealogic. They're ranked in increasing order of post-IPO return.