How Pre-IPO Shares Trade Before the Ticker
Offer price versus first open and first close, larger US IPOs of the trailing yeartable ·
2026-11-01 · 12×8
DXYZ close versus its June 30, 2026 published NAV of $34.30series ·
2026-11-01 · 45×6
DXYZ monthly closes and ranges since its March 2024 listingseries ·
2026-11-01 · 32×5
DXYZ weekly closes through the 2026 premium peak and the SpaceX listingseries ·
2026-11-01 · 31×5
Offer price versus first open and first close, larger US IPOs of the trailing year
Offer price versus first open and first close, larger US IPOs of the trailing year
| ticker | issuer | listed_on | issue_price | first_open | first_close | open_vs_issue_pct | offer_size_billions |
|---|---|---|---|---|---|---|---|
| SKHY | SK Hynix Inc | 2026-07-10 | 158.14 | 152.62 | 152.35 | -3.5 | 28.13 |
| MDLN | Medline Inc | 2025-12-17 | 29 | 35 | 41 | 20.7 | 7.2 |
| CBRS | Cerebras Systems Inc | 2026-05-14 | 185 | 350 | 311.07 | 89.2 | 5.55 |
| INIO | Innio N.V. | 2026-06-04 | 27 | 31 | 33.3 | 14.8 | 2.43 |
| MAIR | Madison Air Solutions Corp. | 2026-04-16 | 27 | 32 | 31.75 | 18.5 | 2.23 |
| FRVO | Fervo Energy Co. | 2026-05-13 | 27 | 36 | 36.54 | 33.3 | 1.89 |
| BXDC | Blackstone Digital Infrastructure Trust Inc. | 2026-05-14 | 20 | 20 | 19.81 | 0 | 1.75 |
| SOMN | Southern Company | 2025-11-12 | 50 | 49.5 | 50.12 | -1 | 1.75 |
| BSP | Bending Spoons S.p.A. | 2026-07-01 | 29 | 31 | 40.5 | 6.9 | 1.68 |
| QNT | Quantinuum Inc. | 2026-06-04 | 60 | 68 | 60.38 | 13.3 | 1.68 |
| FPS | Forgent Power Solutions Inc. | 2026-02-05 | 27 | 26 | 29 | -3.7 | 1.51 |
| AIAI | AIAI Holdings Corp | 2026-05-11 | 20 | 12 | 15.09 | -40 | 1.39 |
the exact SQL behind every number
WITH ipos AS
(
SELECT
ticker,
any(issuer_name) AS issuer,
max(toDate(listing_date)) AS listed_on,
max(toFloat64(final_issue_price)) AS issue_price,
max(toFloat64(total_offer_size)) AS offer_size
FROM global_markets.stocks_ipos
WHERE ipo_status IN ('history', 'new')
AND toDate(listing_date) >= today() - 365
AND toDate(listing_date) <= today() - 3
AND ticker NOT IN ('SPCX')
AND ifNull(issuer_name, '') NOT ILIKE '%acquisition%'
GROUP BY ticker
HAVING issue_price > 0 AND offer_size >= 100000000
)
SELECT
i.ticker AS ticker,
i.issuer AS issuer,
toString(i.listed_on) AS listed_on,
round(i.issue_price, 2) AS issue_price,
round(d.first_open, 2) AS first_open,
round(d.first_close, 2) AS first_close,
round((d.first_open / i.issue_price - 1) * 100, 1) AS open_vs_issue_pct,
round(i.offer_size / 1e9, 2) AS offer_size_billions
FROM ipos AS i
INNER JOIN
(
SELECT
ticker,
min(toDate(date)) AS first_session,
argMin(toFloat64(open), date) AS first_open,
argMin(toFloat64(close), date) AS first_close
FROM global_markets.stocks_daily_aggs
WHERE date >= today() - 400
GROUP BY ticker
) AS d ON d.ticker = i.ticker
WHERE d.first_session BETWEEN i.listed_on - 1 AND i.listed_on + 5
ORDER BY i.offer_size DESC
LIMIT 12
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