Ibotta’s Initial Public Offering Experiences Favourable Reception, Signaling Growing Interest in Technology Stocks from the Public Market
Shares are not continuing to climb in early trading, but are holding steady above its IPO price, at around $100 at the time of writing.
Its successful debut marks the third major tech IPO in the United States this year, and is the third in a row to price well and immediately trade higher.
Investor eagerness for Ibotta indicates that “there is an increasing appetite for IPOs again” Smith said, “particularly in the tech space.”Don’t pop the champagne yet for the tech IPO market coming roaring back, however.
Classic tech IPOs tend to feature tech companies still in growth mode and deeply in the red.
Smith agrees, calling the upcoming Rubrik IPO “an even bigger test” for tech debuts “given its weaker current financial picture.”We’ll find out next week.
