IPOs Keep Coming amid Dog Days of Summer

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It might be the dog days of summer, but initial public offerings (IPOs) keep on coming.

Some $4.3 billion of stock was priced in new companies last month, according to data from ClickIPO. It was the strongest July since 2014 and the second-highest total for July in the past decade.

All the deals came in the second half of the month because Independence Day slowed business in early July. They were also smaller than the norm in May and June.

Most of the best performers were innovators in the health-care or technology industries. Allakos (ALLK), a developer of customized antibodies to prevent food and drug allergies, has more than doubled since its July 18 offering. Fuel-cell maker Bloom Energy (BE) is up 57 percent and cyber-security firm Tenable (TENB) gained 30 percent.

Chinese e-commerce company Pinduoduo (PDD) rose about 7 percent from its IPO. It was the only deal in July weighing in at over $1 billion.

The main non-technology company was Focus Financial Partners (FOCS), which provides services to a network of registered investment advisers. It’s up more than 20 percent from its July 25 offering, which was the second-biggest the month.

Do you want to invest in IPOs? TradeStation now offers access to initial public offerings through ClickIPO, an innovative mobile service that can be linked directly to your brokerage account. Existing clients can click here to get started.

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David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.