The Great IPO Reopening may be on hold: rising rates and lower stocks are an IPO killer.
Instacart on Thursday broke below its initial price of $30 before closing at $30.65.
Arm Holdings yesterday broke below its initial price of $51 before closing at $52.
It's now at $30, still above its initial price the victim of massive selling the past two weeks.
This is happening just as the next crop of IPO hopefuls is looking to go public in mid-October.
Persons:
Instacart, Klaviyo, It's, Johnson, bode, Nizar Tarhuni, Tarhuni
Organizations:
Arm Holdings, Tech