Not since the height of the dot-com bubble two decades ago has a public listing done more to enrich owners. The average first-day return for U.S. IPOs stands at more than 40% this year and, with day traders on board, the soaring debuts are sowing anxiety among Wall Street pros. “There is a sense of euphoria that is present in markets,” said Kevin Caron, portfolio manager for Washington Crossing. “Caught up in that is also a rush to attribute very, very high valuations to companies that have not yet been proven.”
Eurphoria? Or should it be called “EuFEDia?”
Perhaps from the seemingly endless monetary stimulus from Central Banks like The Federal Reserve?
Will Fed stimulus ever stop? Not with massive spending plans coming from Washington DC!
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