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Updated: The original post noted that the average company that lists on the NASDAQ performs better. It also claimed this to be true across industries, but a closer look reveals that the NYSE actually outperforms the NASDAQ in 7 of 12 industries, including the technology sector. This post was updated to reflect as much.
The Big Board has been snagging some of the hottest tech IPOs this year with LinkedIn, Pandora, Fusion-io, RenRen, not to mention the transfer of SuccessFactors and other listings from the NASDAQ to the NYSE. I interviewed Scott Cutler, the executive vice president at the NYSE, recently to understand the back story. Cutler was quick to diagnose the situation as a “complete crushing” of the NASDAQ.
Those were fighting words. After posting our Q&A, I received a flood of emails from readers and interested parties criticizing Cutler’s comments and chastising me for presenting a one-sided interview.
Then today, I received an email from Daniel Hom, a data analyst atTableau Software. Hom said my post inspired him to look at this year’s IPOs and compare their performance across exchanges. His findings? The NYSE does win in many areas, but the average IPO that lists on the NYSE does not.
Looking at the number of IPOs, amount raised and market capitalization, the Big Board looks like it dominates. But the average company that lists on the NASDAQ performs better. Click here or on the graphic below to interact with the data and compare exchange performance based on number of IPOs, amount raised, market cap, stock performance and across different industries. It is worthy of note that the NYSE IPOs do outperform the NASDAQ’s in tech. See for yourself.
source: forbes.com
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