Companies that cater to the “new normal” of working and shopping from home are rushing to go public.2020 could turn out to be the best year for the IPO market in two decades.
Newly public companies have piggybacked on the broader stock market, which made a soaring recovery in spring and summer after COVID-19 and the ensuing lockdowns derailed the longest bull run in history.As investors shifted their focus to equities, private companies searching for funding took notice.“A lot of companies sitting on the sidelines waiting to go public really used this as an opportunity,” said Lindsey Bell, chief investment strategist at Ally Invest.Through August, 143 companies went public and brought in more than $50.4 billion in proceeds, the most since.