U.S. IPOs Emerge as Unlikely Haven in Brutal Month for Stocks
- New listings return 25% despite weakness in the broader market
- Consumer deals deliver biggest monthly windfall in a decade
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Newly listed stocks provided a surprising source of gains during the U.S. market’s worst month since March of 2020.
Typically losers in a risk-off environment, New York’s initial public offerings instead delivered a rise of 25% on average during September’s selloff in the broader market.