2019 has already seen a slew of impressive tech companies go public, but traders will be watching closely over the next two quarters, as another round of heavyweight tech company IPOs are expected.
"It really was a fascinating and impressive quarter. When you think back at the first half of 2019, it was the busiest first half since 2007," Jose Cobos, the New York Stock Exchange's head of technology capital markets, told Cheddar. "We had a tremendous number of IPOs."
"That's even more impressive when you think about the fact that January and February, for the most part, the market was closed as result of the SEC and government shutdown."
The New York Stock Exchange reports that it raised about 75 percent of all tech IPO proceeds in the U.S. during the first two quarters, a share equivalent to just over $12 billion. Eleven tech companies have gone public on NYSE so far this year, including household names like Uber ($UBER) and Fiverr ($FVRR), as well as lesser-discussed firms like the security policy management company Tufin Software Technologies ($TUFN) and the Nigerian shopping platform Jumia Technologies ($JMIA).
It's expected that Peloton, Postmates, and Airbnb will follow suit later this year.
"[In] September, October, November, I think we'll continue to see a fairly large number of companies go out," he said, adding that 2018 was ultimately the highest performing year for tech companies, in terms of listings and proceeds raised, since 2014.
Meanwhile, in recent years, only two companies have pursued direct listings: Spotify ($SPOT) and Slack ($WORK). He said more companies could list shares, but that "it's not necessarily the right method for all companies."
Unlike public offerings, direct listings don't involve the creation of new shares.
Companies usually go public, Cobos explained, because executives hope to raise more capital to grow the business, to provide liquidity to investors, and to expand their company's public profile.
Tesla is increasing wages for factory workers in Germany.
People are making travel plans and booking tickets as the holiday season nears. Johannes Thomas, CEO of Trivago, joined Cheddar News to provide tips on saving when booking lodging ahead of Thanksgiving and Christmas.
Elon Musk unveiled 'Grok,' his new A.I. chatbot over the weekend, adding that it will be more rebellious than its counterparts. Cheddar News breaks it down.
Heinz is combining two popular flavors for its new condiment, pickle ketchup.
Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Maks Chmerkovskiy and wife Peta Murgatroyd, of "Dancing With the Stars" fame, are branching out into skincare.
Donald Trump began testifying Monday morning in his civil fraud trial, producing the spectacle of a former president and the leading Republican presidential candidate defending himself against allegations that he dramatically inflated his net worth.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
