IPO activity says “Risk On Baby”. 2013 looks to be best year since before the Great Recession.

IPO filings are up 45% through June.  IPO pricings are up 26% YTD over 2012.  Increasing IPO activity is a good “risk on” indicator.  The average first day performance, a gain of 13% so far this year, has been restored to pre-recession levels.  ( see charts on IPO metrics from Renaissance Capital here) A healthy IPO market is symptomatic of a healthy entrepreneurial eco-system, a boost to innovation and reflective of public demand for growth oriented investments.  To be sure, it is also a supply of new shares that compete with already public micro-cap companies but I am doubtful we are at a peak in demand or a peak in the market for high growth stocks.  Jeb B. Terry, Sr. July 6, 2013

IPO Metrics June 2013

Aberdeen Investment Management – a guide service for micro-cap technology investment

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