Investors in recently listed tech companies Arm Holdings Plc (NASDAQ: ARM) and Instacart (NASDAQ: CART) are expressing concerns as both stocks have seen significant declines from their initial highs.
This development raises questions about the environment for new IPOs in the tech sector, the Financial Times reports.
Shares of Instacart, which initially surged up to 40%, have now retreated to their IPO offer price. The stock experienced a low of $29.96 and closed down 11% at $30.10, a mere 10 cents above its IPO price.
On the other hand, chip designer Arm saw an initial jump of 25% on the day of its public debut, but it has ...