Beware the blockbuster IPO.

2023's big listings highlighted some issues within capital markets and why retail investors

should proceed with caution.

It's Friday, December 29th.

Welcome to the Tech Check Podcast.

I'm Dearderbosa.

The last pod of the year, Gilbert, we made it.

The last pod of December, the last pod of 2023, but we'll be back in January with a lot more planned

and a nice long weekend.

For our final episode, we wanted to go back and highlight a big story of this year that we think will be a big story next year as well and that's the

The awful performance of some of these recent IPOs

It's kind of shocking investors and when we say awful performance it depends on where you take them

but we're talking if you invested sort of day one that listing day you would be

underwater in most cases not just this year in the past

years investors who have jumped into the largest recent IPOs they basically all

lost money according to our analysis that's by trading on the first day and they would have

seen dramatically better returns just buying the S&P 500. Even the

connected institutional investors that bought coveted shares at the IPO price, they've seen losses.

So this week on Tech Check, our deep dive into why investors should beware the blockbuster

IPO and why this part of the market might be broken. The blockbuster the company is back companies like Arm and Instacart that are already established important players in the American economy

they were uninvestable for the ordinary investor until now.

But if history is any guy they might want to proceed with caution.

...