Insights
IPOs: events that moved it
Pre-IPO and new-issue allocations. This page gathers the pieces in our Insights archive that touched ipos: what happened, what it meant for this kind of investment, and where to read the original reporting.
Market-history pieces are retrospectives, dated by the event. They are general information, not advice, and not a record of any RockLake position at the time.
Market history · 13
New issues ·
SpaceX lists in the largest IPO ever
A $75 billion offering, with individual investors queuing for shares, put a private company's growth into public hands in a single day.
New issues ·
Figma more than triples on its first day
A heavily oversubscribed software IPO showed how much demand there was for growth shares in 2025, and how quickly early gains can fade.
New issues ·
CoreWeave prices below its range and closes flat
The biggest US tech listing since 2021 was a muted debut, a sign that appetite for AI shares had limits.
New issues ·
Arm's IPO reopens the market for large listings
The chip designer raised $4.87 billion, the biggest offering of 2023, and rose 25% on its first day.
New issues ·
Rivian lists at a value above Ford and GM
An electric-vehicle maker with almost no revenue was valued at $86 billion after its first day.
Emerging markets ·
China's regulatory crackdown hits tech and education shares
Rules on data, tutoring and overseas listings erased tens of billions in value in a matter of weeks.
New issues ·
Coinbase lists directly on Nasdaq
A direct listing with no new shares sold, opening far above its $250 reference price.
Equities ·
The SPAC boom
Record numbers of blank-cheque companies listed, then largely disappointed.
New issues ·
Ant Group's record IPO is suspended days before listing
Regulators halted a dual listing that was set to raise almost $34.5 billion, the largest ever at the time.
New issues ·
Snowflake doubles in the biggest software IPO ever
The cloud data company raised about $3.4 billion and more than doubled on its first day.
New issues ·
Saudi Aramco raises $25.6 billion in the world's biggest IPO
The oil giant's Riyadh listing priced at 32 riyals and briefly made it the most valuable company in the world.
New issues ·
WeWork's IPO collapses
A planned flotation valued at up to $47 billion was pulled after investors balked.
New issues ·
Uber lists below its offer price
The ride-hailing company priced at $45, opened at $42 and ended its first day lower.
Explainers · 4
New issues
How we think about new-issue allocations
Why lock-ups and concentration matter more than the headline.
New issues
How an IPO is priced, and why day one is not the whole story
The offer price, the first-day close and the price a year later are three different numbers.
New issues
Owning a company before it lists
Shares in a private company can be valuable, and are harder to value and to sell.
Investor education
How to use our market-history archive
Browse by year, by series or by the asset class an event affected, and follow each source to the original.
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