The New York Inventory Trade welcomes the executives and friends of DoorDash, Inc. (NYSE: DASH), at this time, Wednesday, December 9, 2020, in celebration of its Preliminary Public Providing.
(This story is for CNBC PRO subscribers solely.)
In a awful 12 months for the economic system, IPOs flourished. The New York Inventory Trade had its busiest 12 months in historical past for debuts. Snowflake, Airbnb, and DoorDash celebrated three of the 10 largest offers in historical past for US tech corporations.
After elevating greater than $ three billion every, all of them had large blowouts, additional sparking controversy over the IPO course of and the quantity of just about free cash that was given to Wall Road and enormous establishments. Airbnb and Snowflake greater than doubled instantly, and DoorDash closed with a rise of 86%.
The story for retail buyers, who have been unable to enter the IPO worth, has been very completely different. They have been excluded from quick earnings and have little to point out for getting later.