Arm’s Downbeat Outlook Shows Why Wall Street Is Gloomy on IPOs
- Investors want more from newly public firms Klaviyo, Instacart
- Just $24.1 billion raised through IPOs in the US this year
Arm Holdings Plc signage during the company's IPO at the Nasdaq MarketSite in New York on Sept. 14.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
This year’s largest US technology newcomers mostly missed earnings expectations, sapping whatever optimism that was left for the IPO market.
Arm Holdings Plc’s disappointing sales forecast a day after underwhelming results from Klaviyo Inc. and Instacart have done little to convince companies that have been kicking the tires on going public to take the plunge.