IPOs and mergers could rebound next year when roughly 1,200 companies are expected to run out of money, according to executives at the AlphaMarket Growth Summit.
The public offerings of Arm Holdings, Instacart and Klaviyo were expected to deliver a big boost to the slumbering IPO market in September. The trio did deliver solid first days, but those gains didn’t last. The stocks of each company have dropped in the aftermarket. Instacart is down nearly 19% from its $30 IPO price, while Arm traded below its $51 offer price and Klaviyo ended Thursday at its $30 price. Then there was the dismal debut of Birkenstock, the German sandal company, which went public last week. Birkenstock has yet to trade above its $46 IPO price, ending Thursday at $37.26.
