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MarketWatch First Take: Tech IPOs are back even as investors unload Snap

The successful first trading day on Friday of MuleSoft Inc., following on the heels of Snap Inc.’s massive initial public offering earlier this month, has returned momentum to the U.S. tech IPO market.

The two companies, which are in much different arenas of tech, saw their stocks get a big pop in the respective first days of trading, with Mulesoft actually coming out ahead despite less coverage than the Snapchat parent company. MuleSoft, MULE, +45.59% a developer of application programming interfaces for corporations, surged 45.5% from its initial price of $17 a share while Snap SNAP, -1.76%closed up 44% after the largest U.S.

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