Why Palantir's Public Market Debut Is Bad For Wall Street

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The flood of tech IPOs continued on Wednesday.

But this story, unlike the M&A bonanza described above, is not great news for Wall Street.

Data-analytics firm Palantir and productivity software company Asana both went public via direct listings on the NYSE yesterday. The unique structure doesn't come with the same fee structure as a typical IPO.

Unicorn Land
Palantir specializes in under-the-radar data analytics for government agencies.

Asana's business model is slightly more straightforward. The company offers a productivity app that gathers project management steps into one tool to help teams organize and track their work.

Facebook Friends: Asana is headed by Facebook co-founder Dustin Moskovitz and Palantir was co-founded by Facebook board member Peter Thiel. High-profile Facebook ties have drummed up further excitement in what were already two of tech's most anticipated stock listings.

Source Fool.com