Call it Wall Street’s Groundhog Day.
When shares of Arm, the British chip designer, begin trading on the Nasdaq stock exchange on Thursday in the year’s biggest initial public offering, investors, tech executives, bankers and start-up founders will be watching closely for how it performs.
If Arm’s stock falls, they will know that the market for I.P.O.s is likely to stay frozen for longer. But a warm welcome for the shares could entice many more companies to go public in the coming months, ending the cold streak.
‘Enforcement 40’ for 2020
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