Map of San Francisco, California

A year in which the IPO market sobered up

Jay Ritter

“For all the euphoria over the likes of ride-sharing app Uber, the chief feature (apart from the lack of profits) of several of these companies since their listing has been their disappointing performance. Uber shares, for example, have plunged more than 30 per cent since the group’s IPO. Analysts say the poor performance is partly a product of investors having been sucked into the hype surrounding them,” writes the Financial Times. 

Cordell Eminent Scholar Chair Jay Ritter comments on how the market checked the valuations of many disruptive tech companies in this story from the Financial Times