Tech darling Nutanix more than doubled on its first day of trading — the latest signal that Wall Street bankers are pricing initial public offerings aggressively to keep deals moving.
“Bankers are happy to get this stuff moving and get a pop — it makes it that much easier to do the next deal,” says Anthony Evans of Triton Research, a New York-based firm focused on tech IPOs.
“Meanwhile, the companies need money because they’re burning through cash,” Evans said.
