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Byline: Jonah Keri
Investor's Business Daily
This year's market for initial public offerings started off hotter than a towering inferno. By the summer, it was a small grease fire. At the close of the year, only a few flickering embers remained.
Such was life in 2000. The year's early enthusiasm lasted until around St. Patrick's Day, then evaporated in the face of too many shaky tech and dot-com stocks. For the year, 440 companies came public - 485 if you include
SB-2 filings. Combined they raised a total of $103.1 billion, according to IPO.com.
More than 60% of the money raised came during the first half of the year. In fact, IPO hunters could have done a lot worse than close up shop on March 10, the day the Nasdaq peaked.
Before then, it seemed any tech shop with half-decent prospects had a shot at an IPO jackpot. Slap a dot-com in the company's name and you had a near sure thing.