The year 2002 was one of the slower ones for initial public offerings. There were 75 IPOs, with an average deal amount near $340 million. Some of the most notable IPOs that year included Dick’s Sporting Goods Inc. (NYSE: DKS), GameStop Corp. (NYSE: GME), JetBlue Airways Corp. (NASDAQ: JBLU), Netflix Inc. (NASDAQ: NFLX), PayPal Holdings Inc. (NASDAQ: PYPL) and Wynn Resorts Ltd. (NASDAQ: WYNN). (Check out the youngest members of the Fortune 500.)
CIT Group raised a whopping $4.6 billion in its IPO that year, though the company subsequently filed for bankruptcy and was acquired. (These are the worst bankruptcies in American history.)
The stock market in 2002 was still struggling to find its footing after the dot-com bubble burst and the events of 9/11. Investor confidence was also low due to the debt ceiling crisis. Yet, the S&P 500 and the broader markets ended the year essentially flat.
The following are 2002’s best IPOs, ranked by how well the stocks have performed since then (as of the close on October 30; split-adjusted as indicated*). Note that Overstock.com Inc. (NASDAQ: OSTK) and PayPal were also positive in that time. JetBlue is trading lower than its IPO price.
Netflix
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- Company: Netflix Inc. (NASDAQ: NFLX)
- Industry: Entertainment
- IPO date: May 23, 2002
- IPO price: $15 per share
- Recent price: $410.08 (+14,772%*)
Dick’s Sporting Goods
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- Company: Dick’s Sporting Goods Inc. (NYSE: DKS)
- Industry: Specialty Retail
- IPO date: October 16, 2002
- IPO price: $12 per share
- Recent price: $105.26 (+3,275%*)
Synaptics
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- Company: Synaptics Inc. (NASDAQ: SYNA)
- Industry: Semiconductors
- IPO date: January 29, 2002
- IPO price: $11 per share
- Recent price: $81.96 (+1,311%*)
GameStop
- Company: GameStop Corp. (NYSE: GME)
- Industry: Specialty Retail
- IPO date: February 13, 2002
- IPO price: $18
- Recent price: $12.80 (+1,267%*)
Nasdaq
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- Company: Nasdaq Inc. (NASDAQ: NDAQ)
- Industry: Financial Data & Stock Exchanges
- IPO date: July 2, 2002
- IPO price: $5 per share
- Recent price: $48.91 (+1,112%)
Wynn Resorts
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- Company: Wynn Resorts Ltd. (NASDAQ: WYNN)
- Industry: Resorts & Casinos
- IPO date: October 25, 2002
- IPO price: $13 per share
- Recent price: $88.08 (+739%)
Verint Systems
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- Company: Verint Systems Inc. (NASDAQ: VRNT)
- Industry: Software
- IPO date: May 16, 2002
- IPO price: $16 per share
- Recent price: $18.61 (+465%*)
Seagate Technology
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- Company: Seagate Technology Holdings PLC (NASDAQ: STX)
- Industry: Computer Hardware
- IPO date: December 11, 2002
- IPO price: $12 per share
- Recent price: $68.42 (+445%)
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