ARM IPO causes market movement, stock price increases by 25%😋

Equities had a more active 48-hours to end the week, beginning with ARM’s long awaited IPO on Thursday, breaking a long standstill in the US IPO market which has only 4 proper public listings YTD. A 25% jump at the open took the company’s market cap to ~$60bln (and a ~110x P/E ratio) for the largest IPO success since 2021, and helped the SPX to close at nearly the highest levels in a month on Thursday. The positive reception should see some thawing of the dormant IPO market with a number of public listings heading into year-end (Instacart, VNG Ltd., Birkenstock, Klaviyo, etc.)

#Equity #IPO #ARM #crypto2023 #US