The IPO market witnessed a slowdown in Q1 2022, and there are several reasons for this. These reasons include rising geopolitical tensions, rising commodity and energy prices, rising inflation, stock market volatility, and price correction in over-valued stocks from recent IPOs. Despite the grim scenario, 37 deals were completed in the U.S. in Q1 2022, raising $2.4 billion in proceeds.
We have used the quarterly return data (from finviz.com) of companies that went public in Q1 2022 to rank the ten best-performing IPOs in Q1 2022. Following are the ten best IPOs in Q1 2022, in reverse order.
Green Visor Financial Technology Acquisition (1%)
Founded in 2021 and headquartered in San Francisco, Green Visor Financial Technology Acquisition (NASDAQ:GVCI) is a blank check company that has been formed for effecting a merger, share purchase, asset acquisition, and other similar transactions. Its shares are currently trading at over $10 and are up almost 1% last month.
Bullpen Parlay Acquisition (2%)
Bullpen Parlay Acquisition (NASDAQ:BPAC) is a blank check company that has been formed to effect a merger, asset acquisition, stock purchase, or other similar transactions. Its shares are currently trading at over $9.90 and are up almost 1% last month.
NorthView Acquisition (2%)
Founded in 2021 and headquartered in New York, it is a blank check company formed to effect a merger, asset acquisition, share purchase, or other similar transactions. Northview Acquisition (NASDAQ:NVAC) shares are currently trading at over $9.80.
Mount Rainier Acquisition (2%)
Founded in 2021 and headquartered in New York, it is a blank check company or a special purpose acquisition company formed to effect a merger, asset acquisition, or other similar transactions. Mount Rainier Acquisition Corp (NASDAQ:RNER) shares are up almost 1% in the last month. Its shares are currently trading at over $10.
CareCloud (4%)
Founded in 1999 and headquartered in Somerset, N.J., it is a healthcare information technology (IT) company that offers an integrated suite of proprietary cloud-based electronic health records and practice management solutions. CareCloud (NASDAQ:MTBC) shares are down almost 3% in the last month and almost 1% in the last five days. Its shares are currently trading at over $25.70. CareCloud completed the offering of Series B Preferred Stock in early February.
CinCor Pharma (13%)
Founded in 2018 and headquartered in Boston, it is a clinical-stage biopharmaceutical company that develops clinical treatments for hypertension and other cardio-renal diseases. CinCor Pharma (NASDAQ:CINC) shares are up almost 19% in the last month but are down over 4% in the last five days. The company went public in the first week of January.
Presidio Property Trust (22%)
Founded in 1999 and headquartered in San Diego, it is a self-managed real estate investment trust that invests across a multi-tenant portfolio of real estate assets. Presidio Property Trust (NASDAQ:SQFT) shares are down over 1% in the last month. Its shares are currently trading at over $0.20.
Credo Technology Group Holding (24%)
Founded in 2014 and headquartered in San Jose, Calif., this company offers connectivity solutions and products for the data infrastructure market, such as integrated circuits, active electrical cables, and more. Credo Technology Group Holding (NASDAQ:CRDO) shares are down over 21% in the last month. Its shares are currently trading at over $11.90, giving it a market cap of over $1.5 billion. Credo Technology Group went public in the last week of January.
Constellation Energy (38%)
Headquartered in Baltimore, this company generates, supplies and markets clean energy electricity and offers renewable energy products and solutions. Constellation Energy (NASDAQ:CEG) shares are up almost 25% in the last month and almost 5% in the last five days. Its shares are currently trading at over $64, giving it a market cap of over $21 billion. Constellation Energy went public in early February.
Nuvectis Pharma (116%)
Founded in 2020 and headquartered in Fort Lee, N.J., it is a preclinical stage biopharmaceutical firm that focuses on novel targeted small molecule therapeutics for treating cancer. Nuvectis Pharma (NASDAQ:NVCT) shares are up almost 28% in the last month but are down almost 5% in the last five days. Its shares are currently trading at over $9.50, giving it a market cap of over $120 million. Nuvectis Pharma went public in early February.