nCino jumps 195% in biggest IPO pop for a US tech company since the internet bubble

Summer 2020 has featured a red-hot US IPO market, and nCino (NCNO) added to the heat on Tuesday, soaring 195% on its debut. That is the biggest IPO pop for a US tech company since August 2000. Including foreign tech issuers, nCino places second, behind Baidu, which popped 354% on its 2005 Nasdaq listing.

Enter your alt tag here

nCino priced at $31, opened for trading at $71 (+129%) and finished at $91.59 (+195%). Several signs pointed to a strong open, including the fact that nCino accelerated pricing by a day, raised the range, and then priced $2 above the raised range. Additionally, our IPO Poll takers ranked it highly. 

Broader IPO market returns have also roared back since the COVID-19 plunge, with the Renaissance IPO Index up 37% year-to-date, compared to -1% for the S&P 500. 

Despite the IPO window re-opening in June, most of the activity has been in the biotech space, and public investors have largely been starved for high-quality US tech IPOs. nCino was only the year’s... 

For the full article, sign up for a free trial of IPO Pro. IPO Pro provides access to our comprehensive IPO calendar, alerts on new IPO content, screening, and more.

Start a Free Trial of IPO Pro

Enter your alt tag here

The article nCino jumps 195% in biggest IPO pop for a US tech company since the internet bubble originally appeared on IPO investment manager Renaissance Capital's web site

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.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.