We previously discussed what happened the last time that IPOs were outperforming the broad market by as much as they are now [2] but thanks to the exuberance of the last month, it seems we have broken another 'record'. Year-over-year absolute gains in Bloomberg's IPO index have only been higher once in history - in 1999; and current levels have been notable resistance for the exuberant spurts of the last 6 years...
[3]
The Bloomberg IPO Index (US) is a capitalization-weighted index which measures the performance of stocks during their first publicly traded year. It includes all companies with a market value of at least $50 million at the initial public offering.
(h/t Brad Wishak at NewEdge)