The global initial public offering (IPO) market hit record heights in 2021. However, in the first quarter of this year, a volatile market spelled a slowdown in global IPO activity. The year started with the strongest opening in 21 years, measured in terms of proceeds. However, the second half of the quarter saw IPO activity plummet, representing $54.40 billion in proceeds, down 51% year-over-year.
However, Wharton management professor David Hsu believes that one high-profile IPO might boost the market. Last year, Rivian Automotive Inc. (RIVN) stood out as the star performer in the IPO market. The stock market might be poised for a ‘solid rally’ this month, according to Bank of America Corp. (BAC). This might spill over into higher returns in May and June, driving a strong second quarter.
