A Dearth of Tech IPOs Could Expose Stock Rally

Initial public offerings from technology-related companies and booming U.S. stock markets usually go together — such as Priceline.com and 1999. Not this year.

The Dow Jones Industrial Average has climbed 15 percent since Jan. 1, even after declining 3 percent this month largely on jitters about corporate earnings and expectations that the Federal Reserve will scale back stimulus measures in the coming months. At the current pace, the number of IPOs in the U.S. could hit 200, the most since 2007.

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