IPO - The IPO market might get several new stocks in the first quarter of 2024 - analyst

2024-01-03 13:49:52 ET

IPOs might start to hit the market as early as mid-February to March, said Jay Woods, Freedom Capital Markets chief global strategist.

The Renaissance IPO ETF ( NYSEARCA: IPO ) is down 1.77% year-to-date, but up 6.92% in the last six months, with $195.61M in assets under management.

Woods said companies waiting to go public are waiting for conditions to get better, and “what’s better than old-time new highs?”

Now, he said, is a pretty good time to go into the market and to exceed the bar from the last two years.

Two filings in January include CG Oncology Inc. (CGON) and BrightSpring Health Services Inc. ( BTSG ).

Woods said he is also interested in Kim Kardashian’s Skims company, because of the "buzz" it could create, and Shein, which filed in November, with Goldman Sachs, JPMorgan, and Morgan Stanley as lead underwriters.

“Giving the low bar, I think we can easily top the last two years as far as the IPO market goes.”

More on Renaissance Capital Greenwich Funds - Renaissance IPO ETF:

• IPO Offers Very Few Advantages To Investors
• U.S. IPO market started to recover in 2023, but global market fell further
• IPOs 2024: Watch for Fanatics debut, red-hot Reddit, fast-fashion juggernaut Shein, Panera redux and Kim K's SKIMS
• Seeking Alpha’s Quant Rating on Renaissance Capital Greenwich Funds - Renaissance IPO ETF

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