By Caroline Valetkevitch NEW YORK (Reuters) - Marketing automation firm Klaviyo's shares closed well below their first-day high on Wednesday, while a ...
By Caroline Valetkevitch NEW YORK - Marketing automation firm Klaviyo's shares closed well below their first-day high on Wednesday, while a slump in the stocks of Arm Holdings and InstacartBy Caroline Valetkevitch
"Investment bankers that help to take companies public are pushing the strong debut of Arm and Instacart... saying this is a great time to go public," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.Chip designer Arm's stock on Wednesday hit a low of $51.52, coming close to its $51 IPO price in this year's biggest IPO last Thursday. The shares closed down 4.1% at $52.91.
All three major U.S. stock indexes ended lower on Wednesday, with Federal Reserve Chairman Jerome Powell warning that the battle against inflation was far from over and underscoring investor worries that interest rates will remain high. The Nasdaq is down more than 2% from a week ago. Short sellers need to borrow a stock to short it, and the relationship between shares on loan and shorted is normally quite close, Ortex said.
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Klaviyo, Arm, Instacart wobble, raising doubts over IPO revivalMarketing automation firm Klaviyo's shares closed well below their first-day high on Wednesday, while a slump in the stocks of Arm Holdings and Instacart added to doubts over whether a hoped-for new-listings revival would materialize. The high-profile listings have put investor focus back on the initial public offering (IPO) market after a nearly 18-month dry spell, but it may still be a tough time for offerings given high interest rates and recent declines in the broader U.S. stock market, said some investors and market participants. 'Investment bankers that help to take companies public are pushing the strong debut of Arm and Instacart... saying this is a great time to go public,' said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
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Klaviyo prices IPO above range to raise $576 million-sourcesBy Echo Wang and Anirban Sen NEW YORK (Reuters) - Marketing automation company Klaviyo Inc priced its initial public offering (IPO) on Tuesday above ...
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Klaviyo prepares for US market debut after pricing IPO above range(Reuters) - Marketing automation company Klaviyo was set to list its shares on the New York Stock Exchange on Wednesday, in a third big test for the ...
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Fed decision, Klaviyo IPO, government shutdown: 3 ThingsFed Day is upon us with investors and markets paying close attention to Federal Reserve Chair Jerome Powell's tone in his interest rates statement later today. A majority of experts expect regulators to hold rates where they are until the next FOMC meeting in 2023. Klaviyo (KVYO) will be joining the 2023 IPO Club, alongside Arm Holdings (ARM) and Instacart (CART), pricing its initial offering at $30 per share. Lastly, Republican lawmakers are struggling to agree upon a new federal budget proposal in order to avoid a government shutdown. Yahoo Finance's Seana Smith and Brad Smith detail several of this morning's leading news headlines.
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