We previously discussed what happened the last time that IPOs were outperforming the broad market by as much as they are now 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…
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)
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/x3JFI0V_cc0/story01.htm Tyler Durden