US companies sold stock at the fastest rate ever in May as markets posted a rebound rally
The 2020 total is now more than $120 billion, the highest since 2015, according to the report.
Publicly traded companies in the US sold shares in the fastest clip ever in May, as the market rebounded from the coronavirus-induced meltdown.Reuters reported, citing Refinitiv data. That's a jump from April, when issuance was $22.3 billion, and March, when it dipped to $4.8 billion, the lowest month since December 2018.
It also brings the 2020 total to more than $120 billion, the highest since 2015, according to the report. The market meltdown in March foiled companies' ability to issue new shares and raise cash. But, as markets have rebounded, companies are rushing back - the S&P 500 index has gained roughly 40% from March lows and is about 10% away from the all-time high it hit in February.
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