Get High, Then Supply

Classic economics: When demand pushes the price up, it’s time to supply the market. Whelp, that’s exactly what is happening with stocks. IPOs have surpassed the tech bubble high.

Here is the number of IPOs per year since 1999. With almost 3 months to go in the year, 2021 has already crushed all the previous years.

More supply should help push down prices… eventually.