GELYY - IPO Roundup: Zeekr Shimmick DDC Enterprise and more

2023-11-13 09:31:52 ET

The usually bustling IPO market has experienced a quieter period in recent weeks, largely due to factors such as poor stock performances in October, high interest rates, and the anticipation of reduced valuations. Waystar ( WAY ), a fintech company, has postponed its IPO until December or even next year, while Klarna ( KLAR ), a "buy now, pay later" firm, has no immediate plans to go public. The broader market sentiment is reflecting concerns about valuations and the economic outlook, leading companies to take a more measured approach to public offerings. This slowdown is expected to persist until there is a significant improvement in market conditions and investor confidence.

While the Renaissance IPO ETF ( NYSEARCA: IPO ) has risen around 30% YTD, outperforming the S&P 500's ( SP500 ) 15.5%, most of those gains were locked in before the IPO environment came under pressure in the summer.

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