The 2025 IPO Comeback Tour

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The Motley Fool

Business, Investing

4.3 • 3.1K Ratings

🗓️ 16 December 2025

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today’s episode of Motley Fool Money, Emily Flippen is joined by Sanmeet Deo and Jason Hall to break down why the IPO market took off in 2025, which new listings may look like future Rule Breakers, and what investors should be keeping an eye on for new IPOs in 2026: - Why the IPO market heated up in 2025 and what it means for the future performance of newly listed companies - What separates true Rule Breaker contenders from fakers when listing on public markets - What the 2026 IPO market has in store, and if it ever makes sense to buy on day one Companies discussed: CRWV, FIG, KLAR, CRCL, SPCE, CHYM, SpaceX Host: Emily Flippen, Jason Hall, Sanmeet Deo Producer: Anand Chokkavelu Engineer: Dan Boyd Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The IPO market woke up in 2025, but can it continue its run in 26? And is SpaceX the
0:11.2	exception, or does it really never make sense to buy into an IPO? We're discussing all of this
0:15.7	and more today on Molley Full Money. Today is Tuesday, December 16th.
0:22.9	Welcome to Motley Full Money.
0:24.3	I'm your host, Emily Flippin, and today I'm joined by Fool analyst Jason Hall and
0:27.7	Samit Dale to discuss the IPO market.
0:30.4	We'll be taking a look back at what reopened the IPO window over the course of the past
0:34.1	year, run the biggest IPOs of 2025 through a rule breakers lens,
0:37.9	and make a few predictions for the 26 IPO markets, including discussing if it really never
0:43.0	makes sense to buy into an IPO. Now, the IPO market in 2025 was obviously much hotter than
0:48.0	2024. The third quarter of this year was the biggest quarter for capital raises since
0:52.5	2021, and IPOs in the first half of
0:54.9	this year were up more than 75% compared to 2024. Now, I know we're not still in that post-pandemic
1:01.5	world of IPO mania that we had just a few years ago, but the falling interest rates,
1:05.8	a surprisingly resilient market. It seems to all have wedded the appetite of banks, companies,
1:10.2	and investors alike. So, Jason, I want to pass it to you first. When you think about the IPO market and the performance of it this year, what do you think was the main catalyst? What's the simplest explanation for why we're seeing so much more demand today than we were a year ago? So I think the kind of the shorter answer is bull markets beget more IPOs, and as much as it's
1:29.0	been kind of a weird, uncertain year in some ways for things that affect the economy and companies
1:33.7	like a trade war in tariffs, the economy is just powered through. I think that's a big part of the
1:41.1	story, but a little bit more nuanced answer is the market and
1:44.7	economy have continued to do well, and interest rates are falling, and we're moving farther
1:50.8	away from the 2022 bear market, where we saw so many of those IPOs and SPACs from 2020 and
1:57.6	2021 that just absolutely crashed and burn. They say that time heals all wounds,
	...

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