The IPO hype machine is moving faster than the stocks

This year has seen a flurry of initial public offerings (IPOs) on Wall Street, with 203 companies debuting on the NYSE or Nasdaq. While some IPOs made big splashes, their performance has been inconsistent as attention shifted to the next big offering. Despite the Dow Jones and S&P 500 showing gains of 7.5% and 9% respectively, new listings have had a more varied track record. This divergence highlights the challenges startups face in maintaining investor enthusiasm and underscores broader market dynamics beyond just initial hype.