Amid turbulent trading conditions this week, a number of IPO names still made an impact upon listing, albeit profit taking meant there were few names able to sustain and build upon their impressive debuts.

New ASX listings

It was the most-anticipated IPO of the third quarter, and the wait certainly didn't disappoint those that took part in the offer for lithium-sulphur battery development company Li-S Energy (ASX: LIS).

The company exploded onto the ASX with gusto, defying the market-wide drop and trading more than three times its IPO price of $0.85 per share for much of its first two days of trading, before profit takers emerged late in the week. The premise of a potential advancement towards efficient and safer battery technology resonated with long-term investors, while traders were only too keen to take advantage of heavy volume tied to the lithium and battery metals sectors.

Similarly, it was a blistering open for Afterpay-backed (ASX: APT) investment holding company Touch Ventures (ASX: TVL), which started trading nearly 50% above its IPO price. However, momentum quickly shifted against the company, which invests in a number of early-stage businesses, including names like Sendle and international buy-now pay-later firms. By the close of the trading week, the stock had dipped below its float price, albeit with $100 million at disposal for investments.Of the junior explorers that listed this week, it was a stellar start for the likes of Dalaroo Metals (ASX: DAL), Mitre Mining (ASX: MMC), Forrestania Resources (ASX: FRS) and West Cobar Metals (ASX: WC1), which each enjoyed strong debut sessions. After raising $5 million, Dalaroo is looking to explore its Namban and Lyons River projects in Western Australia, with the former touted as a nearology' play for the Julimar discovery owned by runaway success story Chalice Mining (ASX: CHN). 

On the other hand, Mitre Mining, with its focus on gold, lithium and base metals in the Lachlan Fold Belt struck with investors thanks to its low enterprise value and potential for diverse commodity exposure, which also extends to rare earths.

Lithium, gold and nickel explorer Forrestania Resources was almost 100% up on debut before shedding around half of those gains. The company acquired its project from Firefly Resources (ASX: FFR), with previous assays including 33 metres grading 3.2% lithium oxide from 69 metres, with 13 metres at 4% lithium oxide from 81 metres.The performance of the quartet was in stark contrast to fellow resources explorer Koonenberry Gold (ASX: KNB), with shares in KNB finishing lower by about 25%. The junior gold explorer, with drill-ready targets in New South Wales, secured $10 million and is hoping that there are positive things to come after finding gold nuggets near the surface on its land. Investors interested in Activeport (ASX: ATV), a software-defined networking tool provider, as well as metals explorer C29 Metals (ASX: C29) will have to wait a little longer until these names hit the ASX, with both IPOs postponed.

New US listings

In a direct listing on the Nasdaq, San Francisco-based software firm Amplitude (NASDAQ: AMPL) made a stunning start to life as a public company. Shares in the analytics firm popped more than 40% above their reference price of US$35 per share to represent a US$5 billion valuation for the company. Amplitude offers analytics optimisation tools to companies such as PayPal, NBC and Peloton, with interest boosted amid the digitisation of the economy throughout the pandemic, which helped underpin a 56% rise in revenue to US$72 million for the first half of 2021.Another company that made a direct listing this week was low-cost prescription glasses retailer Warby Parker (NYSE: WRBY). While the company originally had a strong emphasis on the digital channel, it has now pivoted to the brick-and-mortar channel as well. The company is anticipating higher sales as the economy finds its feet and as the strain of digital media consumption eventually takes its toll on a growing number of individuals who may need glasses. Warby Parker is undertaking an aggressive store roll-out program, and despite being unprofitable at this time, revenue growth has been a strong point for the business.Hair-care products supplier Olaplex (NASDAQ: OLPX) upsized its IPO after hot demand, securing US$1.6 billion at a price above its initial guidance range. Hitting the boards with a market cap of close to US$14 billion, Olaplex is another company to have witnessed a sharp rise in sales in the first half of this year, however, in this instance the business is also profitable, to the tune of US$95 million for the half. The stock rose 16.7% on debut, defying poor market sentiment in a dour session for US indexes.Finally, casual-dining restaurant franchise First Watch (NASDAQ: FWRG) is on track to list tonight, at a time where restaurants are seeing increased patronage after lockdown orders lifted, while cloud-based software solutions provider Allvue Systems (NYSE: ALVU) pulled the plug on its mooted IPO as volatile market conditions deterred the company from listing.