The IPO market remains under pressure again this year: Despite great hopes of revitalization, disappointing IPO like that of CoreWeaven is reluctant.
• IPO market remains tense
• According to experts, no trend reversal initially in sight
• Market is not ready
After three years, investment bankers seemed to have had hope of recreation in 2025. But the latest stock exchange passages show a different picture: the market remains tense and companies still seem to hesitate to take the step to the stock exchange. In particular, the weak start of CoreWeave should be considered a warning signal.
A market in the queue
Since 311 companies went to the US exchanges, the IPO numbers have dropped drastically. In the past three years there have been only 164 listings – a significant decline in how Jay Ritter numbers from the University of Florida Warrington College of Business show. There is also no trend reversal for 2025: “I would probably not go now. There is an old saying that very good companies can be noted on any market. And that is absolutely true, but they would not choose to listen to this market,” says Barron’s Samuel Kerr, head of the department for share capital markets at Mergermarket, in this context.
However, the uncertainty mounted: “At the beginning of 2000, the internet bubbles were bubbling, numerous companies went to the stock exchange with astronomical reviews, and then suddenly everything stopped. Companies that were about to be in front of the IPO decided to wait, and the ratings decided, and many of them went bankrupt. They never went to the stock exchange,” warns Ritter.
CoreWeave: a weak start
A first stress test for the IPO market 2025 was the IPO of the AI cloud company CoreWeave. Originally, a price range of $ 47 to $ 51 per share was planned, but in the end the share was spent on $ 40. Already on the first full trading day, the course fell by 7.3 percent to $ 37.08.
The poor performance of CoreWeave is reminiscent of the IPO of the cybersecurity company Sailpoint in February. Although the share initially increased by 12 percent, it is now significantly below the issue price. Both cases show that investors are currently acting extremely carefully.
Is the market ready?
Louis Lehot, IPO consultant at Foley & Lardner, observes a great reluctance: “I’ve been doing this for 25 years, and I have never seen a market in which so many great companies are just waiting to go to the stock exchange,” as Barron’s cited in this context.
The uncertainty on the capital market, rising interest rates and geopolitical tensions would make it difficult to convince investors. “This is an absolute buyer market. The risk of risk is incredibly high, and that now has to be fully reflected with every IPO,” said Kerr.
Editor finance.net
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