The market for initial public offerings has been surprisingly normal over the past two weeks, at least on the surface.
British chipmaker Arm Holdings, food delivery company Instacart and Klaviyo represented a chance to revive an IPO market that has long been in tatters. But the results have not been convincing.
Arm, Instacart and Klaviyo priced their offerings at or above recent expectations, and their shares rose on the first day of trading. However, they have since retreated… read more