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A robust year for initial public offerings including DoorDash and Airbnb may just be setting the stage for a strong slate of companies listing stock in 2021. Dreamstime
Rabid investor demand caused shares of companies like
DoorDash (ticker: DASH) and
Airbnb (ABNB) to roughly double in their first trading days, showing that investors are itching to get a piece of newly public companies. And that surge came near the end of what has proved to be a strong IPO cycle.
There were more than 200 IPOs in 2020, raising a combined $78.1 billion, eclipsing 2019’s mark of 160 IPOs that raised $46.3 billion, data from Renaissance Capital show. Not to mention, the roughly equal number of special purpose acquisition companies, or SPACs, that also made their debut on stock exchanges this year.
Order Reprints Photograph by Andrew B. Myers; (background) Suttipong Sutiratanachai/Getty Images
Corporate travel has fallen off a cliff during the pandemic, taking airline traffic with it. The Las Vegas Strip, ordinarily bustling with conference-goers and leisure travelers alike, more resembles a quiet resort town than the 24/7 hive of activity it usually is. No cruise ships aside from some Covid-stricken stragglers have embarked from or entered U.S. ports since mid-March.
Even domestic leisure travel, a relatively bright spot over the summer and into the fall, is coming up against a surge of Covid-19 cases and a fresh.
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Corporate travel has fallen off a cliff during the pandemic, taking airline traffic with it.