After a 21-month tech IPO freeze, the market has cracked opened in the past week.
Chip designer Arm debuted last Thursday, followed by grocery-delivery company Instacart this Tuesday, and cloud software vendor Klaviyo the following day.
They're three very different companies in disparate parts of the tech sector, but Wall Street's reaction has been consistent.
Instacart popped 40% immediately after selling shares at $30.
But the lack of excitement over the past week — amounting to a collective "meh" across Wall Street — is certainly not the desired outcome either.
Persons:
Arm, Eric Juergens, Plimpton, Juergens, Japan's SoftBank, Fidji Simo
Organizations:
Investors, Debevoise
Locations:
Klaviyo