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Investors were hoping that a recent wave of new listings would reignite the IPO market after a near 18-month dry spell, but stocks including chip designer Arm and RayzeBio have slipped from their debut highs amid persistent worries about high interest rates and inflation.
Shares of marketing automation firm Klaviyo closed lower than their first-day high, raising doubts about the revival of new listings. The decline in the stocks of Arm Holdings and Instacart further added to concerns. The IPO market has gained attention after a dry spell, but high interest rates and recent declines in the US stock market make it a challenging time for offerings.
Marketing automation firm Klaviyo's shares closed well below their first-day high on Wednesday, while a slump in the stocks of Arm Holdings and Instacart added to doubts over whether a hoped-for...
NEW YORK (Reuters) -Marketing automation firm Klaviyo's shares closed well below their first-day high on Wednesday, while a slump in the stocks of Arm Holdings and Instacart added to doubts over whether a hoped-for new-listings revival would materialize. The high-profile listings have put investor focus back on the initial public offering (IPO) market after a nearly 18-month dry spell, but it may still be a tough time for offerings given high interest rates and recent declines in the broader U.S. stock market, said some investors and market participants. "Investment bankers that he...
The high-profile debuts have put focus on the IPO market after a long dry spell, but high interest rates and a broader decline in stocks may make it tough for new listings.