What the IPO Boom Tells Us

IPO热潮所揭示的

Goldman Sachs Exchanges

2026-06-23

9 分钟
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IPO activity has been on the rise in 2026. What does that tell us about investor sentiment, and what impact could the IPO boom have on US equities going forward? Ben Snider, chief US equity strategist in Goldman Sachs Research, shares his views on whether the rise in public offerings is a sign of market strength or a warning that the market is at its peak.  Recorded on June 22, 2026.   The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs. A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs. Disclosures applicable to research with respect to issuers, if any, mentioned herein are available through your Goldman Sachs representative or at ⁠http://www.gs.com/research/hedge.html⁠ Goldman Sachs does not endorse any candidate or any political party. Copyright 2026. All rights reserved. Learn more about your ad choices. Visit megaphone.fm/adchoices
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  • The IPO market is booming again, but is the surgeon activity a sign of market strength

  • or a warning that the market is at its peak?

  • I'm Allison Nathan and this is Goldman Sachs Exchanges.

  • Today I'm sitting down with my colleague in Goldman Sachs Research, Ben Snyder, chief US equity strategist.

  • Ben, welcome back to exchanges.

  • Good to be with you.

  • So Ben, let's get into it.

  • I know you're getting lots of questions about this topic.

  • We've obviously seen years of muted issuance,

  • and that was a topic for quite some time, but IPO activity has clearly accelerated.

  • So just give us the context, put some numbers on it for us.

  • How much growth have we seen?

  • We're just about halfway through the calendar year.

  • And so far, we've seen just shy of 50 US IPOs.

  • That's about double what we saw at this point last year.

  • And it's the largest number of deals at this point in the calendar year since 2021,

  • which was one of the largest IPO years on record.

  • So we are definitely seeing a recovery.

  • What's notable though is that the size of the deals on average has been very large.

  • And so in dollar terms, we're already basically tied with 2021 for a record year of about $120 billion in issuance.