My Top Tech IPO to Buy in January
Last year was not kind to the initial public offering market, with global IPO activity volume tumbling 45%, leading to a 61% decline in proceeds. In fact, only a little over 1,300 IPOs raised just $179.5 billion, according to Ernst & Young, though technology issues led the way, accounting for nearly a quarter of the total number.
In the U.S., there were just 214 IPOs that raised $21.8 billion in 2022, a far cry from the 1,091 offerings that raised $335 billion in 2021.
One of the biggest was Mobileye (NASDAQ: MBLY), the autonomous vehicle technology spinoff from Intel (NASDAQ: INTC) that went public on Oct. 26, issuing 51.9 million shares at a price of $21 per share. It generated a little over $1 billion in net proceeds for the tech stock.
Source Fool.com
