Gross Proceeds from U.S. IPOs At midyear, 2026 has already matched 2021’s full-year record, with roughly $120 billion raised in U.S. IPOs. The window is wide open, but keeping that momentum through year-end will not be easy. Image: Goldman Sachs Global Investment Research
Number of U.S. IPOs 40 U.S. companies have gone public so far this year, while Goldman Sachs expects roughly 100 IPOs to raise about $160 billion in 2026. Geopolitical uncertainty and recent equity market volatility have kept issuance in check. Image: Goldman Sachs Global Investment Research
The IPO Fade – % Change from Day-One Peak by Cohort Buying into the SpaceX IPO is a bet on hype as much as fundamentals, and history points to a volatile debut. Early investors should be ready for swings and keep dry powder until the first results bring clarity. Image: Real Investment Advice
Annual Average IPO Return During First Trading Day In 2026, U.S. IPOs rose 19% on average in their first trading session, edging above the 30-year median and delivering a solid first-day pop. Image: Goldman Sachs Global Investment Research
Nasdaq After the Netscape IPO and ChatGPT Came Out It’s not unusual for U.S. tech to lag in the third year after a big innovation, with the post‑Netscape years offering a perfect textbook case. Image: Carson Investment Research
S&P 500 and U.S. IPO Activity The IPO market is showing signs of life. A pickup in U.S. listings, paired with improving sentiment in global equities, points to a more bullish medium-term outlook for new issues. Image: Topdown Charts
Monthly Median IPO Return Durig First Trading Day The strong first-day trading performance of U.S. IPOs in 2025 provides clear evidence of a resurgence in speculative trading and renewed investor confidence in new listings. Image: Goldman Sachs Global Investment Research
Monthly Number of U.S. IPOs and S&P 500 The IPO market’s rebound in 2025 is a clear signal of renewed risk appetite and a progressing market cycle, with investors showing strong demand for new equity issues. Image: Topdown Charts
Tech IPOs vs. Non-Tech IPOs Tech IPO shares have soared an average of 108% above their offering price. By comparison, non-tech IPOs have gained 49%, a solid return but significantly less than the surge seen in tech offerings. Image: Yahoo Finance
U.S. IPO Market The GS IPO Issuance Barometer, which shows improvement, suggests that the U.S. IPO market could be ready for a robust recovery in 2025 after several years of decreased activity. Image: Goldman Sachs Global Investment Research
U.S. IPOs (Excluding SPACs) – Deal Count and Deal Value U.S. IPO activity is on the rise. Image: BofA Global Research