Investing

Recent IPOs remind him of dot-com bubble

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Former Nasdaq CEO Bob Greifeld warned on Monday that this year’s IPO boom feels similar to the late 1990s dot-com bubble.

“It’s important to recognize that the IPO market was getting quite bubbly [nowadays],” said Greifeld, a CNBC contributor and author of the new book, “Market Mover: Lessons from a Decade of Chance at Nasdaq.”

Many companies with billion-dollar valuations at the time of their initial public offerings this year got cool receptions on Wall Street. Shares of Lyft, Uber and Peloton are all among the worst performers since their market debuts.

“In a sense, it reminded me back of the dot-com era, when you had companies going public that had no known path to profitability,” said…



Source cnbc.com

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