• Latest
  • Trending
  • All
  • News
  • Lifestyle
Tech’s market debutantes overshadowed by Gates-backed pharma stock thumbnail

Tech’s market debutantes overshadowed by Gates-backed pharma stock

July 25, 2020
Labor Market Added 517,000 Jobs In January—Unemployment Rate Falls To 54-Year Low Of 3.4% thumbnail

Labor Market Added 517,000 Jobs In January—Unemployment Rate Falls To 54-Year Low Of 3.4%

February 4, 2023
Busting That Chinese Spy Balloon Is Harder Than You Think (Updated) thumbnail

Busting That Chinese Spy Balloon Is Harder Than You Think (Updated)

February 4, 2023
Record cold snap could hit New England this weekend thumbnail

Record cold snap could hit New England this weekend

February 3, 2023
Joe Biden Offered Vladimir Putin 20 Percent of Ukraine to End War: Report thumbnail

Joe Biden Offered Vladimir Putin 20 Percent of Ukraine to End War: Report

February 3, 2023
GoodRx fined $1.5 million for allegedly selling users’ health data thumbnail

GoodRx fined $1.5 million for allegedly selling users’ health data

February 3, 2023
Small Businesses Lost 75,000 Jobs in January thumbnail

Small Businesses Lost 75,000 Jobs in January

February 2, 2023
DARPA wants to push the boundaries of where satellites can fly thumbnail

DARPA wants to push the boundaries of where satellites can fly

February 2, 2023
Pamela Anderson says she and Kid Rock broke up over her 'Borat' cameo thumbnail

Pamela Anderson says she and Kid Rock broke up over her ‘Borat’ cameo

February 2, 2023
Biden and McCathy's debt-ceiling talk is a clash of strategies thumbnail

Biden and McCathy’s debt-ceiling talk is a clash of strategies

February 2, 2023
Doc Re-Used Nasal Surgery Devices; Humira Patent Game; Nonprofit Hospital Tactics thumbnail

Doc Re-Used Nasal Surgery Devices; Humira Patent Game; Nonprofit Hospital Tactics

February 2, 2023
Market Your Business With These National Days in February 2023 thumbnail

Market Your Business With These National Days in February 2023

February 1, 2023
Here’s How Much Emergency Cash You Should Keep at Home thumbnail

Here’s How Much Emergency Cash You Should Keep at Home

February 1, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Donate
Saturday, February 4, 2023
66 °f
Wellfleet
58 ° Tue
63 ° Wed
68 ° Thu
61 ° Fri
  • Login
  • Register
FREE Cape Cod News
DONATE
  • FREE Cape Cod News
  • News
    • News
    • Cape Cod News
    • Massachusetts
    • Breaking News
    • Cape Cod Weather
    • Storm Watch
    • Environment
  • Politics
    • democrats
    • republicans
  • Business
    • business
    • cryptocurrency
    • economy
    • money
    • Real Estate
    • Tech
  • World
  • Entertainment
  • Lifestyle
  • Photos
    • Orleans
    • Eastham
    • Wellfleet
    • Truro
    • Provincetown
    • Brewster
    • Chatham
  • Videos
No Result
View All Result
Free Cape Cod News
No Result
View All Result
  • FREE Cape Cod News
  • News
  • Politics
  • Business
  • World
  • Entertainment
  • Lifestyle
  • Photos
  • Videos
Home Lifestyle Fitness / Health Coronavirus

Tech’s market debutantes overshadowed by Gates-backed pharma stock

FREE Cape Cod News by FREE Cape Cod News
July 25, 2020
in Coronavirus
Reading Time: 3 mins read
Donate
0
Tech’s market debutantes overshadowed by Gates-backed pharma stock thumbnail
634
SHARES
1.4k
VIEWS
Share on TwitterShare on Facebook

We know that tech’s biggest are stronger than before the coronavirus pandemic — but when it comes to stock market debutants, tech companies have been completely overshadowed by a new wave of public biotech and pharmaceutical firms.

The only exception is ZoomInfo, the Massachusetts data software and marketing startup that raised nearly $1 billion with its stock offering last week.

As of Friday’s market close, ZoomInfo stock was up a tongue-swelling 85% on its initial offer price, making it the most profitable US listing for a tech company so far this year.

ipo, stock
Flourish chart, prices until 6/5 market close, courtesy of IPOScoop.com

Still, that’s nothing compared to Schrodinger, a pharma-fused simulation software firm that counts Bill Gates as an investor. Since offering company shares for $17 in early February, Schrodinger stock has skyrocketed to hit $63.59 — returns of 274%.

In fact, 15 of the 20 best-performing IPOs we studied this year are in some way related to the pharmaceutical industry, while just one is considered a tech stock: ZoomInfo.

Fresh tech stocks just can’t beat that vaccine hype

Hard Fork analyzed the market performance of the 41 public offerings conducted so far in 2020, as reviewed by investment portal IPOScoop.

They can be grouped into five categories: health (21), consumer services (7), technology (5), consumer goods (4), and finance (4),

Generally, investors have shown the most enthusiasm for fresh pharmaceutical stock like Schrodinger. As of June 5’s market close, new listings IMARA, Inari, Zentalis, and ORIC had all increased by more than double, raising the average return for this year’s healthcare-related IPOs to nearly 76%.

ipo, stock
Flourish chart, prices until 6/5 market close, courtesy of IPOScoop.com

For scale, freshly-minted tech stocks we looked at have barely broken even on average. Besides ZoomInfo, the only tech IPO to have enjoyed any kind of market growth is China’s Kingsoft Cloud Holdings, which says it’s the country’s “largest independent cloud service provider.”

Indeed, Kingsoft stock is up 19% while the other tech hopefuls — Dada Nexus, WiMi Hologram, and Lizhi — are all in the red, down 0.06%, 37%, and 58% respectively.

This brings the average rate of return for analyzed tech IPOs in 2020 to just 1.72%. (NB: Lizhi is the worst performing IPO this year, tech or otherwise).

[Read: These 5 tech companies are swimming in cash]

After pharmaceuticals, IPO stock in companies that provide consumers with goods in some way — like Warner Music — are returning the most profits for investors.

Warner Music stock is up almost 20% since its $1.9 billion IPO last week, while shares in household mainstay Reynolds have jumped 27% since its January listing.

Published June 8, 2020 — 16:09 UTC

Read More

FREE Digital Newspaper Subscription!
Sign up for your free digital subscription. The FREE Cape Cod News

Unsubscribe
FREE Cape Cod News

FREE Cape Cod News

Free Cape Cod News is what's happening in the Cape Cod, U.S and World & what people are talking about right now. Local newspaper. Stay in the know. Subscribe to get notified about our latest news.

Related Posts

NY state health agency considers nixed COVID vaccine mandate for healthcare workers thumbnail
Coronavirus

NY state health agency considers nixed COVID vaccine mandate for healthcare workers

by FREE Cape Cod News
January 19, 2023
U.S. considers new Covid rules for travelers from China amid surge in cases thumbnail
Coronavirus

U.S. considers new Covid rules for travelers from China amid surge in cases

by FREE Cape Cod News
December 29, 2022
Lab-Made Covid-19 Coronavirus At Boston University Raises Questions thumbnail
Breaking News

Lab-Made Covid-19 Coronavirus At Boston University Raises Questions

by FREE Cape Cod News
October 20, 2022
Coronavirus Update: Boston health officials worried about levels of COVID in wastewater, and cases are falling again in New York and New Jersey thumbnail
Coronavirus

Coronavirus Update: Boston health officials worried about levels of COVID in wastewater, and cases are falling again in New York and New Jersey

by FREE Cape Cod News
October 11, 2022
Load More
Please login to join discussion

Follow Us on Twitter

FREE Cape Cod News - Your source for local Cape Cod news, latest breaking U.S. and World news. Every day, all day. Subscribe for your favorite categories.

  • Trending
  • Comments
  • Latest
Busting That Chinese Spy Balloon Is Harder Than You Think (Updated) thumbnail

Busting That Chinese Spy Balloon Is Harder Than You Think (Updated)

February 4, 2023
Joe Biden Offered Vladimir Putin 20 Percent of Ukraine to End War: Report thumbnail

Joe Biden Offered Vladimir Putin 20 Percent of Ukraine to End War: Report

February 3, 2023
Black Women Are More Likely to Start a Business than White Men thumbnail

Black Women Are More Likely to Start a Business than White Men

May 12, 2021
Labor Market Added 517,000 Jobs In January—Unemployment Rate Falls To 54-Year Low Of 3.4% thumbnail

Labor Market Added 517,000 Jobs In January—Unemployment Rate Falls To 54-Year Low Of 3.4%

February 4, 2023
Busting That Chinese Spy Balloon Is Harder Than You Think (Updated) thumbnail

Busting That Chinese Spy Balloon Is Harder Than You Think (Updated)

February 4, 2023
Record cold snap could hit New England this weekend thumbnail

Record cold snap could hit New England this weekend

February 3, 2023

FREE Cape Cod News On Twitter

Today’s News

  • Labor Market Added 517,000 Jobs In January—Unemployment Rate Falls To 54-Year Low Of 3.4% February 4, 2023
  • Busting That Chinese Spy Balloon Is Harder Than You Think (Updated) February 4, 2023
  • Record cold snap could hit New England this weekend February 3, 2023
  • Joe Biden Offered Vladimir Putin 20 Percent of Ukraine to End War: Report February 3, 2023
  • GoodRx fined $1.5 million for allegedly selling users’ health data February 3, 2023
FREE Cape Cod News

Copyright © 2022 Free Cape Cod News

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Donate

Follow Us

No Result
View All Result
  • FREE Cape Cod News
  • News
    • News
    • Cape Cod News
    • Massachusetts
    • Breaking News
    • Cape Cod Weather
    • Storm Watch
    • Environment
  • Politics
    • democrats
    • republicans
  • Business
    • business
    • cryptocurrency
    • economy
    • money
    • Real Estate
    • Tech
  • World
  • Entertainment
  • Lifestyle
  • Photos
    • Orleans
    • Eastham
    • Wellfleet
    • Truro
    • Provincetown
    • Brewster
    • Chatham
  • Videos
  • Login
  • Sign Up

Copyright © 2022 Free Cape Cod News

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist