Hot or not? How recent high-profile US IPOs have performed

A surge in equity markets and robust debuts from notable newcomers have fueled renewed enthusiasm for initial public offerings.

Design software maker Figma FIG and stablecoin giant Circle CRCL peaked at 333% and 864% above their IPO prices in the days following their debut, highlighting how eager investors are to get behind the companies they think are future winners.

Here's how an ETF tracking major newly public stocks has fared against the benchmark S&P 500 SPX over the past year:

Below is a look at how some of the biggest IPOs in recent years have performed:

FIREFLY AEROSPACE FFLY:

The Northrop Grumman-backed space tech firm upsized its IPO and priced above range to raise $868.3 million. Its stock opened nearly 56% above the IPO price on the Nasdaq.

FIGMA FIG:

Design software maker Figma raised $1.22 billion in its IPO and ended its first day on the NYSE with an eye-popping gain of 250% in July.

Its shares are now trading about 6% higher than where they opened, and 174% higher than the IPO price.

CHIME CHYM:

The financial technology company priced its IPO above the marketed range, raising $864 million in June.

The stock opened 59% higher on debut and is now trading nearly 22% above the IPO price.

CIRCLE INTERNET CRCL:

The stablecoin issuer raised $1.05 billion in an upsized IPO earlier in June, debuting with a valuation of nearly $18 billion on a fully diluted basis.

Its shares more than doubled on day one, closing about 168% above the IPO price. The stock is trading 134% above its price at open.

ETORO ETOR:

Robinhood-rival eToro ETOR secured a valuation of $5.64 billion after its shares surged 34% in their Nasdaq debut in May.

The stock and cryptocurrency trading platform raised $620 million in an upsized IPO. Its stock has declined 19% since the debut.

COREWEAVE CRWV:

The AI cloud firm's Nasdaq debut was muted in March, but the stock has jumped nearly three-fold despite opening nearly 3% below its offer price.

The Nvidia NVDA-backed company raised about $1.5 billion in its IPO for a valuation of about $23 billion on a fully diluted basis.

VENTURE GLOBAL LNG VG:

The liquefied natural gas exporter raised $1.75 billion in its offering in January, settling for nearly half the valuation it had aimed for earlier.

The company's shares opened nearly 4% below their IPO price in a subdued NYSE debut. They have plunged around 40% since then.

SAILPOINT SAIL:

The Thoma Bravo-backed identity security company's shares traded flat in their Nasdaq debut, valuing it at $12.8 billion. The stock has since lost nearly 12%.

The Austin, Texas-based company raised $1.38 billion in an upsized IPO.

ARM HOLDINGS ARM:

The chip designer raised $4.87 billion in its offering in September 2023, valuing it at $54.5 billion. It had sought a valuation of as much as $52 billion.

The company's shares rose 10% at the open. The stock has more than doubled since then.

INSTACART CART:

The San Francisco-based company, which is incorporated as Maplebear, was priced at the top end of the marketed range in its IPO. It raised $660 million at a nearly $9.9 billion valuation in September 2023.

It had hiked its proposed price range and targeted a valuation of up to $10 billion.

The grocery delivery app's stock popped 40% at the open and has since gained about 14%.

VIKING HOLDINGS VIK:

The cruise operator's IPO raised $1.54 billion in April last year, valuing it at $10.35 billion. It had sought a valuation of as much as $10.8 billion in the offering.

Viking's shares opened 9% above their offer price and have more than doubled since.

STANDARDAERO SARO:

The aircraft maintenance services provider notched a valuation of roughly $8 billion after pricing its offering above range to raise $1.44 billion in October last year. It had initially targeted a valuation of up to $7.69 billion.

The Carlyle-backed company's shares began trading 29% above the offer price. They have since lost around 9%.

LINEAGE LINE:

The cold storage real estate investment trust raised $4.45 billion in its listing in July 2024, at a valuation of more than $18 billion. It had aimed for a valuation as high as $19.16 billion.

The company's stock gained 5% in its Nasdaq debut at the open. However, it has fallen 46% below its price at open.

REDDIT RDDT:

The social media giant fetched $748 million in its IPO in March last year, which valued it at $6.4 billion — the top end of the target range at which it had advertised.

Its stock opened 38% above the offer price, and has jumped more than four-fold since.

BIRKENSTOCK BIRK:

The 250-year-old German sandal maker raised $1.48 billion and was valued at $9.3 billion in its IPO in October 2023, slightly lower than its target of $10 billion.

Its shares debuted 11% below their IPO price but have risen 20% since.

** Note: Stock performance since debut is calculated on the basis of the opening trade

** Sources: Filings, LSEG, Reuters' reports