Shares closed nearly 30% higher on Rivian’s first day of trading. Investors’ money wasn’t tied to making loan payments as much, so they could invest more in the stock market. All in all, the US IPO market fell 94.8% to $8 billion in 2022, a 32-year low. Fast forward to 2023Even though the Fed continued to raise interest rates, the stock market started to get out of its slump, and suddenly the IPO market came out of hibernation. Sometimes companies even purposefully set their IPO prices low so investors get super excited and rush to buy shares, boosting the prices up.

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Persons: CNN Business ’, They’ve, Paul La Monica, Bumble, wasn’t, Jerome Powell et, Ferris, shindig, Birkenstock, you’re, Nightcap Organizations: CNN Business, CNN, Federal Reserve, Treasury