Feb 12, 2018

What happens after the annual IPO slowdown?

Photo by Chris Hondros/Getty Images

The IPO markets have entered their annual dead zone, as companies finalize 2017 financials and avoid launching road shows into Presidents Day/school vacation week. And it's probably fortunate for those with weak stomachs, given the recent market volatility.

The real question, therefore, is what happens in March.

Lise Buyer of IPO advisory Class V Group:

"Companies that are working toward an IPO already, on file with the initial filing are not missing a step. Damn the torpedoes, full speed ahead... I think the uptick in volatility may dissuade some that were discussing a 2018 IPO at the '2017 wrap up' board meetings. Bottom line: No change from those who have already stepped on to the yellow brick road, but unclear for those still in Kansas."

Seeking Alpha:

"After the VIX spiked in September 2015, over half of the 32 IPOs in the 4Q15 priced below the range, and first-day returns were below-average at +7%."

Lynne Laube, co-founder and COO of marketing software company Cardlytics, which last week priced into the volatility:

"It's a lot of work to get to the point where you're able to price an IPO, and to get strong interest from the types of investors we want, who are owners not renters. We would have liked the market to have been more stable and priced above range but, in the end, it was a transaction we wanted to get done."

Go deeper

Older candidates take the lead on social media

Illustration: Eniola Odetunde/Axios

Michael Bloomberg, Bernie Sanders and Joe Biden — all close to 80 — are pushing the boundaries on social media, while their younger Democratic presidential rivals are comparatively staying out of the fray.

The big picture: President Trump's unexpected rise to political power has shown Democrats and world leaders the power of harnessing popular internet culture to get elected.

South Korea and Italy step up emergency measures as coronavirus cases jump

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus has spread to more nations as South Korea and Italy step up emergency measures in their countries amid rising case numbers on Sunday.

The big picture: COVID-19 has killed at least 2,462 people and infected almost 79,000 others, mostly in mainland China. South Korea increased the infectious disease alert to red, the highest possible, as its case numbers jumped to 602 and the death toll to five. Italy's government announced emergency measures, with several towns in the north effectively placed in lockdown, as it confirmed two deaths and infections rose to 79.

Go deeperArrowUpdated 4 hours ago - Health

Bernie Sanders wins Nevada caucus

Democratic presidential candidate Sen. Bernie Sanders waves to supporters at a campaign rally on Friday in Las Vegas. Photo: Mario Tama/Getty Images

Sen. Bernie Sanders is projected to handily win the Nevada Democratic primary caucus, becoming the clear frontrunner among 2020 Democratic presidential primary election candidates.

Why it matters: Nevada is the first state with a diverse population to hold a nominating contest, highlighting candidates' abilities to connect with voters of color — particularly Latino voters.

Go deeperArrowUpdated 4 hours ago - Politics & Policy