December 19, 2020 | Glorious New Issue Markets and Turn-Of-The-Year Tops
No need to expand upon “Glorious”, but a “New Issue Market” invites some detailing. Historically, one of the features of a mature bull market is that the demand for stocks excites a rush by underwriters to take private companies public. Such offerings have been called new issues. Certainly from their wild record with the South Sea Bubble of 1720 to the 1970s when the lamentable “Initial Public Offering” or “IPO” began to be used. Perhaps confected by some zombie lawyer tediously proofing every line of too many prospectuses.
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Bob Hoye December 19th, 2020
Posted In: Charts and Markets - Bob Hoye