Psychology Dominates IPO market

The IPO market is waiting for a breakthrough IPO to restore confidence, as the market is driven by psychology rather than financials. The trauma around IPOs occurred as retail investors suffered losses due to SPACs and rate hikes, leading to a freeze in the market despite ample high-quality private companies and capital available. The market is waiting for a high-profile successful IPO to kickstart new offerings. The most valuable firms historically mirrored the dominant resources and activities of their eras.