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Because the Fed is not expected to increase benchmark interest rates anytime soon, more companies are expected to go public this year. Investors’ increasing interest in IPO stocks is evident in the Renaissance IPO ETF’s (IPO) 10.4% gains over the past month compared to the SPDR S&P 500 Trust ETF’s (SPY) 1.4% returns.
Given the IPO boom, Wall Street believes Coinbase Global, Inc. (COIN), C3.ai, Inc. (AI), and Similarweb Ltd. (SMWB), which went public recently, could rally robustly in the coming months.
