IPOs in the Fourth Quarter

While the IPO market in 2010 has not turned out as hoped, there is some promise looking forward. A handful of IPOs have performed well. JinkoSolar (JKS) is particularly interesting, rising 3x in four months. JKS is a Chinese solar provider and is taking advantage of cheaper Chinese costs to sell vigorously into the US and Europe. It came out at a relatively modest value, and still seems relatively unknown.

You can fund some other promising IPOs from this year with a bit of research. The clunkers this year are getting more coverage than a suite of winners. You can get a flavor of expected Q4 IPOs here.

Venture-backed IPOs have done better at 8% returns than IPOs overall (1%), but a big caution flag is over the lower quality of the 42 venture-backed IPO hopefuls in the pipeline: “71% generated less than $100 million in sales over the last 12 months and 57% have yet to turn a profit on a trailing 12-month basis.” Some high profile IPOs like Tesla are still holding up. Coming up is Brightsource, a solar-thermal provider, which recently got approval for its facility in the Mojave Desert.

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