Only two companies entered the U.S. public trading market last week. Both of the initial public offerings were from micro-cap companies, which are companies that have a market capitalization between approximately $50 to $300 million.
The first was an oncology biotechnology firm called Monopar Therapeutics (NASDAQ: MNPR). After postponing its IPO twice, the company entered public markets on December 19 with 1,111,112 shares offered. Monopar had an offering amount of $8,888,896 at an $89 million market cap. Its stock was priced at $8 per share. The company exploded in its debut, with its stock surging +231%. It finished its first week up +238%.
The other company that joined U.S. public markets also on December 19 with Indonesia Energy Corp. LTD. (NYSE: INDO), who in its IPO raised about $15 million at an $81 million market cap. The oil and gas exploration and production company focused on Indonesia offered 1,363,367 shares and price at $11 in its first day. The company stumbled into public markets, posting a -3% return in its initial day and finished its first week down -12%.
There are no companies scheduled to enter the U.S. stock market this week and there will likely be no more new stocks until 2020. As the year comes to a close, the Nasdaq (NYSE: QQQ) announced that the 185 initial public offerings that the market indicator introduced in 2019 raised a total of $34.3 billion. Among the major companies that listed on the Nasdaq, Lyft (NASDAQ: LYFT) raised $2.34 billion, XP (NASDAQ: XP) gained $1.96 billion and Peloton (NASDAQ: PTON) increased $1.16 billion. The amount raised this year is an increase from 2018's 185 IPOs that raised $27.7 billion on the Nasdaq.