Twilio, Other Recent IPOs a Bright Spot Among Market Slump

Shares of Twilio Inc. , a cloud communications company that went public Thursday, were up 2% Monday morning, bucking the overall stock market slump. The company saw a big pop in shares on its first day, up 90% from the issue price, and saw shares decline slightly Friday, closing at $26.30 compared to $28.79 the previous day, after news of the Brexit results. The S&P 500 was down 1.3% Monday. Other recent initial public offerings were on the uptick Monday, with shares of Global Water Resources up 0.5% and Avexis, Inc. up 2%.