Tech IPOs Stand Out In Shaky Market

Investing.com -The overall IPO market is off to a rocky start in 2018, but the tech sector has been a winner.Some 17 tech companies have debuted this year. The majority posted first day gains and are still trading higher than their offer price. The average gain is 5%.By comparison, about 60% of all IPOs are now trading below their offer price. Of all the tech IPOs, Dropbox, Spotify and DocuSign are the only well-known names. About a third of the tech IPOs are software companies."These are strong companies with extremely fast growth," says Matthew Kennedy, IPO strategist at Renaissance Capital. which tracks IPOs. "I think there's investor appetite for them."