Chime Financial shares jumped in their first day of trading today, closing at $37.11 — more than 37% above their IPO price.
🔥 Why it matters: The U.S. IPO market is suddenly on a roll.
Catch up quick: Chime's strong debut is just the latest in recent weeks for U.S. fintechs.
Crypto firm Circle saw its shares skyrocket in its NYSE debut last week. They closed today at $106.54, far above the IPO price of $31.
Voyager Technologies shares soared 80% on their first day earlier this week, and closed today at $49.50, above the $31 IPO price.
And eToro's stock popped in its debut last month too. Today they closed at $64.17, above the $52 IPO price.
Reality check: ThoughChime's IPO priced above expectations at $27 last night, its valuation has cooled substantially from the $25 billion venture capital firms assigned it in 2021, when interest in the neobank soared during the pandemic.
It raised $864 million this morning at a market value of $11.4 billion.
What we're watching: How Chime shares perform.
"If it goes well — and you'll know that in the next two to three months — I think you'll see much more receptivity" from other companies eying IPOs, Revolution Ventures partner David Golden, tells CNBC.
