IPO ETF

The IPO market has been sluggish for almost three years due to elevated global yields and macroeconomic uncertainties, despite a peak in early 2021. I am downgrading the Renaissance IPO ETF from a buy to a hold due to valuation concerns and mixed technical signals. The ETF's high tech exposure and lack of large-cap stocks increase its cyclical risk, especially with rising market interest rates.

Renaissance IPO ETF provides exposure to new US IPOs without the hassle of being a first buyer. The portfolio includes companies like Kenvue, Nu Holdings, Coinbase, Arm Holdings, and AppLovin. Sector composition primarily in Tech and Financials, compared to First Trust US Equity Opportunities ETF with similar performance.

Xjet Ltd., an Israeli 3-D printing company, withdrew its registration for a U.S. initial public offering on Friday, ending plans to list on Nasdaq. The company last updated its filing documents with the Securities and Exchange Commission in September of 2023.

Deirdre Bosa from CNBC appears on 'Power Lunch' to talk about the potential for tech IPOs.

Viking Holdings Ltd. has expanded the size of its IPO, with all additional shares being sold by existing shareholders.

Reporting live from the Bitcoin (BTC-USD) Investor Day event in New York City, Yahoo Finance's Brad Smith is joined by Bitwise Asset Management Co-Founder and CEO Hunter Horsley to talk about bitcoin ETF activity as traditional investors become more encouraged to invest in crypto via ETFs.. Bitwise runs its own spot bitcoin ETF (BITB) and several crypto industry ETFs (BITC, BITQ, BITW, BTOP).

The talk of the day is the debut of Reddit (RDDT) on public markets. The stock priced at the top of its expected range, and at the intraday highs traded 70% above the IPO price of $34.

Wall Street is abuzz over the upcoming Fortegra initial public offering (IPO). Indeed, the specialty insurance company and subsidiary of Tiptree (NASDAQ: TIPT ), Fortegra Group, is set to go public this Thursday, Feb. 8.

Chances of Fed rate cuts, investor appetite, and the financial stability of companies going public may boost IPO activities in 2024.