The year started off strong for technology-based initial public offerings, some of which got big first-day pops. Pinterest was offered at $19 a share and closed that day at $24.40 a share, a nice 28% gain. Zoom Video was offered at $36 a share and closed at $62 for a 72% gain. Of course, there's a big difference between an offer price that's for insiders and special investors and what a stock opens at for retail investors. Zoom, for instance, opened at $65 per share.
As the year wears on, the market's appetite for IPOs, tech especially, seems to be satiated. WeWork pulled its IPO after it had difficulty drumming up investor support, as did talent agency Endeavor.