Equity Equity Monday: We'd give an arm and a leg for an ARM IPO filing
Mar 6, 2023
Stocks are showing mixed results worldwide, with Japan gaining while China struggles. The crypto market remains stagnant after recent volatility. Exciting news arises with ARM possibly going public, aiming to raise a whopping $8 billion. In the startup scene, Abound secured a massive fintech round, while Wunderkind raised significant funds for its marketing tech. Meanwhile, Tesla's latest price cuts stir curiosity about their impact on profits. A lively overview of the current financial landscape!
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Market Overview
- Global stock markets show mixed performance, with Asian markets particularly uneven.
- Cryptocurrencies remain stagnant after a decline, while Silvergate's value continues to drop.
Arm's IPO
- Chip designer Arm, owned by SoftBank, plans a US IPO, potentially raising $8 billion.
- This IPO is significant due to the importance of chips in current geopolitical circumstances.
Abound's Fintech Round
- UK-based Abound raised $600 million to leverage Open Banking for consumer lending.
- Open Banking APIs offer an alternative to traditional credit networks.