Internet IPO Launch Pad Gathers Dust
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For the second month in a row, the Internet IPO market was stagnant, with only a half-dozen ticker debuts in May. June promises to be not much better.
If you exclude January, which traditionally sees few public offerings, May was the quietest month for 'Net IPOs in the past year and a half.
And while the average first-day results were slightly higher than April's, the 38 percent posted in May is the second-worst monthly showing since we began tracking Internet IPO performances in January 1999.
There are no more than a dozen or so Internet companies slated to begin trading in June, but you can be sure that several, or maybe even most, will postpone or delay their public offerings if the market climate doesn't improve. Indeed, that's why about half of them are on the launch list for late June; that gives them plenty of time to see which way the wind is blowing.
What a difference a meltdown makes.
Average First-Day Return (By Month)
10 Best Internet Debuts of 2000
|eMerge Interactive||Feb. 4||215%|
10 Worst Internet Debuts of 2000
|Hanaro Telecom||March 29||-9%|
|SAVVIS Communications||Feb. 15||0%|
Here are the May Internet IPOs, listed by date, with their first-day performances: