Bastion Research

Special Reports & Research

Data-driven special reports and interactive tools from Bastion Terminal — deep dives into IPOs, factor investing and market structure, grounded in decades of evidence.

Special Report

Investing in IPOs: What 45 Years of Data Says

Across 9,343 US IPOs since 1980, the typical newly public company lags the market for three years — and the losses cluster in the most expensive, least profitable, hype-driven deals.

Read the reportBased on Jay R. Ritter's IPO statistics · 8 slides

Interactive Tool

The IPO Health Score

Answer 14 data-weighted questions — valuation, profitability, scale, deal terms and market mood — for a single 0–100 read on how healthy an upcoming IPO looks before it prices.

Open the toolFree · 14 questions · ~2 min