IPO investors in 2020 and 2021 faced a challenging road after some of the substantial gains from the prior decade were wiped out by a flurry of poorly performing IPO offerings. In this Eye on the Market, titled Mr. Toad’s wild ride: The impact of underperforming 2020 and 2021 US IPOs, Michael Cembalest, Chairman of Market and Investment Strategy for J.P. Morgan Asset & Wealth Management, delves into IPO performance, the SPAC disaster, IPO flipping, insider lock-up expirations and much more.

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