Social media site Pinterest launched its $1.4 billion IPO into the equity market Thursday afternoon and has since seen its shares rise 26%. Including shares purchased by the underwriters, the company's market cap closed its first day of trading at $10 billion.
Among the 10 largest IPOs in 2019, through Thursday, a total of $5.4 billion in shares have been introduced to the market with an average appreciation of 36.4%. Oversubscriptions pushed that total to a combined $40 billion market cap at the end of the companies' respective first days of trading. That combined market cap is currently about $56.3 billion. Cloud-based video conferencing service provider Zoom, well, zoomed 75% higher in its first 1 1/2 days of trading to a market cap of $16.6 trillion. Precision Biosciences is the only stock among the cohort that is lower since its IPO, down 21.8%.