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October's winners & losers: Growth IPOs still flying high


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Despite the market sell-off, the October IPO market was relatively active with 22 deals , and  strong returns .

The month's best-performing IPOs were relatively fast-growing and unprofitable. Software unicorn Elastic , cancer diagnostics maker Guardant Health and Chinese casino Studio City averaged a 75% return from IPO.

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3 Best-Performing October IPOs
Issuer
Business
Deal Size IPO Mkt Cap First-Day Return
10/31
Return
Elastic ( ESTC )
Big Data search software.
$252M $3,165M +94% +89%
Guardant Health ( GH )
Next-gen cancer diagnostics.
$238M $1,707M +69% +76%
Studio City ( MSC )
Macau-based casino.
$359M
(89% insider)
$928M +24% +61%



The three worst performers all generated positive free cash flow, but went public with intense competitive pressure. Chinese scooter maker Niu Technologies , premium cooler company YETI and lithium producer Livent averaged a loss of -11% at month-end. For comparison, the Nasdaq Composite fell -9.2% in October, and September's three worst-performing IPOs averaged a loss of -21% last month. 

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3 Worst-Performing October IPOs
Issuer
Business
Deal Size IPO Mkt Cap First-Day Return
10/31 Return
Niu Technologies ( NIU )
Chinese electric scooters.
$63M $692M -4% -14%
YETI Holdings ( YETI )
Premium coolers and drinkware.
$288M $1,574M -6% -12%
Livent (LTHM)
FMC's lithium unit.
$340M $2,453M 0% -8%


The article October's winners & losers: Growth IPOs still flying high originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: News Headlines , IPOs
Referenced Symbols: ESTC , GH , MSC , NIU , YETI



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