{"slug":"what-is-gmp-in-an-ipo","qid":"pop_by_year","label":"pop_by_year","post_title":"what-is-gmp-in-an-ipo","post_url":"/blog/what-is-gmp-in-an-ipo#q-pop_by_year","columns":["listing_year","listing_count","median_pop_pct","below_offer_pct"],"rows":[{"listing_year":"2021","listing_count":519,"median_pop_pct":7.5,"below_offer_pct":17.5},{"listing_year":"2022","listing_count":86,"median_pop_pct":11.7,"below_offer_pct":22.1},{"listing_year":"2023","listing_count":114,"median_pop_pct":23.8,"below_offer_pct":16.7},{"listing_year":"2024","listing_count":176,"median_pop_pct":12.2,"below_offer_pct":21.6},{"listing_year":"2025","listing_count":234,"median_pop_pct":9.6,"below_offer_pct":17.9},{"listing_year":"2026","listing_count":90,"median_pop_pct":2.4,"below_offer_pct":27.8}],"shape":"ranking","sql":"WITH issues AS\n(\n    SELECT\n        ticker,\n        min(listing_date)                 AS listing_dt,\n        max(toFloat64(final_issue_price)) AS offer_price\n    FROM global_markets.stocks_ipos\n    WHERE listing_date >= '2021-01-01'\n      AND listing_date <  '2026-07-01'\n      AND final_issue_price > 0\n      AND issuer_name NOT ILIKE '%acquisition%'\n      AND ticker NOT IN ('SPCX')\n    GROUP BY ticker\n),\ndebut AS\n(\n    SELECT\n        i.ticker                                                                AS ticker,\n        toString(toYear(i.listing_dt))                                          AS listing_year,\n        round(100 * (argMin(toFloat64(d.open), d.date) / i.offer_price - 1), 2)  AS pop_pct\n    FROM issues AS i\n    INNER JOIN global_markets.stocks_daily_aggs AS d ON d.ticker = i.ticker\n    WHERE d.date >= i.listing_dt\n      AND d.date <  i.listing_dt + 7\n    GROUP BY i.ticker, i.offer_price, i.listing_dt\n)\nSELECT\n    listing_year,\n    count()                                                                     AS listing_count,\n    round(quantileDeterministic(0.5)(pop_pct, toUInt32(cityHash64(ticker))), 1) AS median_pop_pct,\n    round(100 * countIf(pop_pct < 0) / count(), 1)                              AS below_offer_pct\nFROM debut\nWHERE isFinite(pop_pct)\nGROUP BY listing_year\nHAVING count() >= 5\nORDER BY listing_year","computed_at":"2026-10-02T15:09:03.148223+00:00","elapsed":0.004575068}