Secureworks Is The First Tech IPO In A Bone-Dry 2016 IPO Market

The first technology IPO of 2016, Secureworks Corp SCWX began trading today. After a brief dip below its IPO price of $14 Secureworks was trading up 4.0 percent in the morning session on Friday.

Incredibly, Secureworks is the first tech sector IPO of the year in what is becoming an increasingly dry IPO market. This time last year, there had already been six different tech IPOs.

The IPO market began tapering off in the second half of last year. The total number of IPOs fell to 170 in 2015, its lowest level in six years.

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