The IPO market is cooking. Six IPOs raised $1 billion this past week, with five notching double-digit gains.
Beyond Meat (BYND) popped 163% in the biggest first-day pop since 2015. The vegan burger maker has had explosive growth (205% in the 1Q19), extremely rare for a food company, and likely appeals to a wide group of environmentally-conscious investors and ESG funds. With tech-like growth, it now has a tech-like valuation, at 15x trailing sales.
Coming in second, Transmedics Group (TMDX) finished the week with a 55% gain. While its device has not seen much traction