Strong anticipated demand for Slack signals robust investor appetite; 2019 still expected to be a record
The IPO market faced its first major test since the disappointing debuts of Uber Technologies Inc. UBER 1.41% and Lyft Inc. LYFT 4.58% and passed with flying colors.
Investors eagerly snapped up shares of three companies that went public last week—cybersecurity firm CrowdStrike Holdings Inc., CRWD 6.37% online pet-supply retailer Chewy Inc. CHWY -2.47% and freelance-services marketplace Fiverr International Ltd. FVRR 9.20% —and pushed them all up 50% or more.
The stellar performance has, for now at least, put to rest questions that have hung over the market since the highly anticipated initial public offerings of ride-hailing companies Uber and Lyft this spring proved to be duds. Both stocks currently trade below their IPO prices.