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Switch and Roku stocks are doing much better than Blue Apron and Snap

The latest tech IPOs have so far been greeted by stock market approval.

Rob Roy, founder and chief executive of Switch Inc., rings the bell to start trading Friday morning on the New York Stock Exchange.
Rob Roy, founder and chief executive of Switch Inc., rings the bell to start trading on the New York Stock Exchange.
NYSE
Rani Molla is a senior correspondent at Vox and has been focusing her reporting on the future of work. She has covered business and technology for more than a decade — often in charts — including at Bloomberg and the Wall Street Journal.

The latest tech IPOs have so far been greeted by stock market approval. Switch, a data center company that went public on Friday, is up nearly 23 percent from its IPO price of $17. Roku, a streaming video hardware and software company that went public about a week earlier, closed Friday at 66 percent above its $14 IPO price.

That’s a welcome difference from two of this year’s other notable tech IPOs, Snap and Blue Apron, both of which are trading below their IPO price.

In general, tech companies in the S&P 500 are outperforming the index overall this year. Tech company stock is up 28 percent compared to 14 percent overall.

So far this year, 19 tech companies have gone public in the U.S., up from 16 at this time last year.


This article originally appeared on Recode.net.

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