Wall Street is booming as a growing number of privately held companies are choosing to go public. Many had delayed their IPOs due to high interest rates, but with recent rate cuts and a business-friendly new administration, the IPO market is heating up again.

It’s not just the investment banks in New York that are reaping the rewards—newly listed companies are also seeing their stock prices skyrocket on the first day of trading.

According to Bloomberg, Newsmax, the conservative cable news channel, went public in March and closed its first day of trading up 735%. In the same report, drone manufacturer Airo Group Holdings Inc. finished its debut day up 140%.

This may be just the beginning. With more profitable startups expected to hit the public markets, companies like Klarna, Chime, and Plaid are poised to generate millions in fees for Manhattan-based investment banks.