If you're hunting for high-growth stocks, initial public offerings (IPOs) are one of the best places to look. Some of the most valuable companies in the world were once freshly minted public offerings, and early investors who spotted them early made a fortune.
But not every IPO is a winner. Volatility is high, track records are short, and enthusiasm can send valuations to irrational heights fast. Here's what's worth your attention right now.
Top recent IPO stocks (2025-2026)
| Name and ticker | Market cap | Dividend yield | Industry |
|---|---|---|---|
| CoreWeave (NASDAQ:CRWV) | $38.5 billion | 0.00% | IT Services |
| Figma (NYSE:FIG) | $16.0 billion | 0.00% | Software |
| Circle Internet Group (NYSE:CRCL) | $23.4 billion | 0.00% | Software |
| Omada Health (NASDAQ:OMDA) | $752.8 million | 0.00% | Healthcare Providers and Services |
| StubHub (NYSE:STUB) | $3.5 billion | 0.00% | Entertainment |
1. CoreWeave
NASDAQ: CRWV
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2. Figma
NYSE: FIG
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NYSE: CRCL
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NASDAQ: OMDA
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NYSE: STUB
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After years under the umbrella of eBay and then Viagogo, a ticket exchange platform, StubHub went public in September 2025.
Stubhub is not a new company by any means, having been founded in 2000 in the dot-com boom. While it's growth has slowed over the years, the company has an attractive business model, thanks to the network effects endemic in secondary ticketing platforms.
It's the largest secondary ticket marketplace in the world, though it trails Ticketmaster as the largest overall ticketing platform.
After a boost from Taylor Swift's Eras tour, Stubhub experienced a downshift in revenue growth in 2025. Through the first three quarters of 2025, revenue grew just 5% to $1.17 billion.
The company has historically been profitable on a cash basis, but it has $1.6 billion in debt, much of which came from its acquisition by Viagogo.
Its first few months as a public company have been a disappointment, with the stock down more than 50% from its $23.50 IPO price as of Feb. 2026.
IPO stocks to watch in 2026
These companies haven't gone public yet, but they're among the most anticipated offerings in years.
1. OpenAI
OpenAI is one of the most anticipated IPOs in Wall Street history as the generative AI leader was valued at $500 billion in its most recent funding round, and the company is in talks to raise tens of billions of dollars more from Amazon and Nvidia.
While it's been easy for the company to raise money in the private markets, the ChatGPT creator could go public as soon as this year.
According to The Wall Street Journal, the company is preparing for a public offering in the fourth quarter, aiming to beat rival Anthropic to market. The company recently restructured its business as a for-profit enterprise and defined the stakes that investors like Microsoft hold in the company.
2. Anthropic
Not to be outdone, Anthropic, the other leading AI company and maker of the Claude chatbot, is also reportedly planning its own IPO.
The start-up was valued at $350 billion in its last funding round, and, as of Feb. 2026, was close to raising $20 billion in another round.
In December, Financial Times reported that Anthropic had hired the law firm Wilson Sonsini to prepare for an IPO that could happen as early as 2026.
Anthropic has gotten a lot of attention for its Claude Code tool, which has driven a sell-off in software stocks, as some investors believe it could replace a lot of traditional coding and software.
3. SpaceX
SpaceX, Elon Musk's aerospace company, is also on the list of high-profile companies that could go public this year. Musk himself has confirmed reports that the company intends to go public this year, and an offering could come as soon as June.
The Wall Street Journal said Musk's lieutenants have reached out to index managers to secure earlier inclusion for the company, a strong sign of its intention to go public.
SpaceX also recently merged with xAI, Musk's AI company, presumably in part to beef up SpaceX's prospects ahead of an IPO.
How to evaluate an IPO stock
Once a company files its S-1 prospectus with the SEC, you can dig into its actual finances. Here's what to focus on:
- Revenue growth: How fast is the top line expanding, and is the rate accelerating or decelerating?
- Profitability: Is the company profitable on a GAAP basis? If not, how long until it could be?
- Business model: Is this a proven model (cloud software, payments) or an unproven concept that needs to establish itself?
- Customer concentration: Heavy reliance on a handful of customers is a risk — CoreWeave is a good example.
- Valuation: Plenty of IPOs have excellent businesses but debut at prices that make it impossible to generate a return. Don't chase heat.
One more thing worth knowing: IPO stocks are subject to lockup periods -- typically six months -- that prevent insiders from selling. When those expire, the stock can drop if insiders rush for the exits.
How to buy IPO stock
- Open your brokerage app: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Pros and cons of investing in IPO stocks
There are a number of pros and cons to investing in IPO stocks. Let's review some of the big ones.
Pros:
- Investing in IPOs can get you exposure to big winners.
- Most top stocks were once IPOs.
- You can get in early on a stock you like.
Cons:
- Most IPOs underperform the market.
- IPOs tend to be more volatile and riskier than the average stock.
- It can take time for an IPO to find equilibrium in the market, and it's hard to know where it will settle.
In general, IPOs offer substantial potential upside and occasionally produce big winners, but most debuts do not perform as well as the S&P 500, whose stocks have proven their mettle on their way to earning membership in the index.
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