Why it matters
Notable companies that listed recently. Recent-listing and activity-led themes are useful for finding newer stories before they settle into mature market coverage.
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Recent IPOs
Notable companies that listed recently.
Newly-public companies offer fresh growth stories — and elevated volatility as the market finds their fair value. This collection curates notable recent IPOs across the US market; treat the Risk rating as essential reading.
What to check next
Review revenue durability, lock-up risk, cash burn, insider ownership and whether early public results support the listing narrative.
Main risk
Newly public companies can have thin histories, optimistic guidance and sharp valuation resets after the first few reporting cycles.
| Company | Market | Market Cap | Reward | Risk | Yield | |
|---|---|---|---|---|---|---|
| Space Exploration Technologies Corp. Class A Common StockSPCX | $2.4T | — | ||||
| Cerebras Systems Inc. Class A Common StockCBRS | $50.2B | — | ||||
| CoreWeave, Inc. Class A Common StockCRWV | $47.4B | — | ||||
| Astera Labs, Inc.ALAB | $33.7B | — | ||||
| Reddit, Inc.RDDT | $27.9B | — | ||||
| Circle Internet Group, Inc.CRCL | $23.3B | — | ||||
| Figma, Inc.FIG | $14.3B | — | ||||
| Klarna Group plcKLAR | $13.9B | — | ||||
| Chime Financial, Inc. Class A Common StockCHYM | $11.5B | — | ||||
| SailPoint, Inc. Common StockSAIL | $11.5B | — | ||||
| Rubrik, Inc.RBRK | $10.4B | — | ||||
| StandardAero, Inc.SARO | $10.3B | — | ||||
| Lineage, Inc. Common StockLINE | $10.1B | 0.0% | ||||
| Tempus AI, Inc. Class A Common StockTEM | $9.5B | — | ||||
| BullishBLSH | $5.5B | — | ||||
| Waystar Holding Corp. Common StockWAY | $4.9B | — | ||||
| StubHub Holdings, Inc.STUB | $3.5B | — | ||||
| NIQ Global Intelligence plcNIQ | $3.5B | — | ||||
| Firefly Aerospace Inc. Common StockFLY | $3.3B | — | ||||
| Accelerant HoldingsARX | $2.9B | — | ||||
| eToro Group Ltd.ETOR | $2.6B | — | ||||
| Quantinuum Inc. Class A Common StockQNT | $2.0B | — | ||||
| Via Transportation, Inc.VIA | $1.4B | — | ||||
| Gemini Space Station, Inc. Class A Common StockGEMI | $728.3M | — |
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Related collections
Frequently asked questions
What is the Recent IPOs collection?
Notable companies that listed recently. It currently holds 24 stocks, each rated by Openbook's Reward and Risk scores. Newly-public companies offer fresh growth stories — and elevated volatility as the market finds their fair value.
How are Recent IPOs stocks selected?
Recent IPOs is a curated basket of companies with direct exposure to this theme, screened against live market data and ranked by market capitalisation.
How often is the Recent IPOs list updated?
It is rebuilt from live market data, so the constituents and their rankings update as prices and company fundamentals change — there is no fixed, hand-edited list.
How should I use the Reward and Risk ratings?
Openbook's Reward rating combines a stock's growth, momentum, profitability and valuation into a single 0–100 score, and the Risk rating scores financial strength, volatility and size. Use them to compare names within this theme — broadly, a higher Reward alongside a lower Risk is more attractive. They are quantitative research signals, not investment advice.
Openbook Reward and Risk ratings and factor scores are quantitative signals for research, not investment advice. Data may be delayed. Some US-listed names carry partial factor coverage.