Market Pulse: Airbnb, DoorDash Driving Historic Surge in IPO ETF

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Airbnb, DoorDash Driving Historic Surge in IPO Exchange Traded Fund

IPO frenzy is driving record activity in an exchange-traded fund dedicated to new companies.

Renaissance IPO ETF (IPO) traded about 1 million shares on Monday and Tuesday. Those are the two busiest days in its history, and roughly triple the average volume in the past month. The fund also had its biggest monthly gain ever in November, up 27 percent. It’s advanced another 3.5 percent so far in December.

IPO adds companies as soon as five sessions after they go public. It removes them two years after they’re listed. The fund’s biggest holdings now are Moderna (MRNA) and Uber Technologies (UBER).

New companies can present challenges to investors because they’re not always well known or covered. Traders looking to discover and follow recent IPOs might want to learn the scanning techniques covered in this post.

The table below includes results from a search last night. It looked for:

  • At least $2 billion of market capitalization
  • Average daily stock volume of 100,000 shares
  • Less than 100 days of price history
  • It shows the 10 stocks with the biggest gains in the last four weeks.
CompanyIndustryDays Public4-Week Change
CureVac (CVAC)Biotechnology80+109%
Palantir Technologies (PLTR)Software48+97%
Cerevel Therapeutics (CERE)Biotechnology88+69%
Snowflake (SNOW)Data Services58+62%
Nano-X Imaging (NNOX)Medical Equipment75+54%
Unity Software (U)Software56+51%
Yalla (YALA)Social Media48+47%
Corsair Gaming (CRSR)Gaming Peripherals53+43%
XPeng (XPEV)Electric Vehicles71+42%
AlloVir (ALVR)Biotechnology91+38%
Renaissance IPO ETF (IPO), daily chart, with volume bars.
Renaissance IPO ETF (IPO), daily chart, with volume bars.
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