The 8 Most Wildly Successful IPOs of 2002

Investing

Published: November 4, 2023 2:00 pm

Last Updated: November 10, 2023 3:25 pm

The year 2002 was one of the slower ones for initial public offerings. There were 75 IPOs, with an average deal amount near $340 million. Some of the most notable IPOs that year included Dick’s Sporting Goods Inc. (NYSE: DKS), GameStop Corp. (NYSE: GME), JetBlue Airways Corp. (NASDAQ: JBLU), Netflix Inc. (NASDAQ: NFLX), PayPal Holdings Inc. (NASDAQ: PYPL) and Wynn Resorts Ltd. (NASDAQ: WYNN). (Check out the youngest members of the Fortune 500.)

CIT Group raised a whopping $4.6 billion in its IPO that year, though the company subsequently filed for bankruptcy and was acquired. (These are the worst bankruptcies in American history.)

The stock market in 2002 was still struggling to find its footing after the dot-com bubble burst and the events of 9/11. Investor confidence was also low due to the debt ceiling crisis. Yet, the S&P 500 and the broader markets ended the year essentially flat.

The following are 2002’s best IPOs, ranked by how well the stocks have performed since then (as of the close on October 30; split-adjusted as indicated*). Note that Overstock.com Inc. (NASDAQ: OSTK) and PayPal were also positive in that time. JetBlue is trading lower than its IPO price.

Netflix

Company: Netflix Inc. (NASDAQ: NFLX)
Industry: Entertainment
IPO date: May 23, 2002
IPO price: $15 per share
Recent price: $410.08 (+14,772%*)

Dick’s Sporting Goods

Company: Dick’s Sporting Goods Inc. (NYSE: DKS)
Industry: Specialty Retail
IPO date: October 16, 2002
IPO price: $12 per share
Recent price: $105.26 (+3,275%*)

Synaptics

Company: Synaptics Inc. (NASDAQ: SYNA)
Industry: Semiconductors
IPO date: January 29, 2002
IPO price: $11 per share
Recent price: $81.96 (+1,311%*)

GameStop

GameStop Logo Sign - Vallejo - California (CC BY 2.0) by Will Buckner

Company: GameStop Corp. (NYSE: GME)
Industry: Specialty Retail
IPO date: February 13, 2002
IPO price: $18
Recent price: $12.80 (+1,267%*)

Nasdaq

NASDAQ MarketWatch (CC BY 2.0) by Ajay Suresh

Company: Nasdaq Inc. (NASDAQ: NDAQ)
Industry: Financial Data & Stock Exchanges
IPO date: July 2, 2002
IPO price: $5 per share
Recent price: $48.91 (+1,112%)

Wynn Resorts

Company: Wynn Resorts Ltd. (NASDAQ: WYNN)
Industry: Resorts & Casinos
IPO date: October 25, 2002
IPO price: $13 per share
Recent price: $88.08 (+739%)

Verint Systems

Company: Verint Systems Inc. (NASDAQ: VRNT)
Industry: Software
IPO date: May 16, 2002
IPO price: $16 per share
Recent price: $18.61 (+465%*)

Seagate Technology

Company: Seagate Technology Holdings PLC (NASDAQ: STX)
Industry: Computer Hardware
IPO date: December 11, 2002
IPO price: $12 per share
Recent price: $68.42 (+445%)

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