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Secureworks Is The First Tech IPO In A Bone-Dry 2016 IPO Market

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SCWX, Aclaris Therapeutics NASDAQ:ACRS - Secureworks Is The First Tech IPO In A Bone-Dry 2016 IPO Market

The first technology IPO of 2016, Secureworks Corp SCWX began trading today. After a brief dip below its IPO price of $14, Secureworks was trading up 4 percent in the morning session on Friday.

Incredibly, Secureworks is the first tech sector IPO of the year in what is becoming an increasingly dry IPO market. This time last year, there had already been six different tech IPOs.

The IPO market began tapering off in the second half of last year. The total number of IPOs fell to 170 in 2015, its lowest level in six years.

Related Link: Jack Ma: China Still Growing Like 'No Other Economy'

This year is off to an even slower start, with Secureworks marking only the 13th IPO of 2016, according to Renaissance Capital. The total number of IPOs is down 70 percent, year-to-date.

Despite the major slowdown in IPO activity, there have been several big winners and big losers in the IPO market in the past year.

On the other hand, TerraForm Global Inc GLBL 4.01% (-82.6 percent), HTG Molecular Diagnostics Inc HTGM 3.82% (-79.9 percent) and Jaguar Animal Health Inc JAGX 0.68% (-79.0 percent) are among the biggest recent IPO flops.

Disclosure: the author holds no position in the stocks mentioned.

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