markets

Jamie Wilde4/16/24

The long, brutal winter may finally be over for the IPO market

IPOs hit record highs in 2021 then hit the brakes, slowing down massively through 2023. But following last month’s successful public debuts of AI startup Astera Labs and social platform Reddit, a flurry of tech companies filed their S-1s.

Two highly-hyped startups are expected to hit public markets as soon as this week. Microsoft-backed data-security software co Rubrik is said to be looking to raise $700M and its AI adjacency adds to its investor appeal, though the company is not profitable. Rubrik’s sales pitch claims that advancements in AI could make its cybersecurity software more necessary and already works with Oracle and Amazon.

The other company expected to IPO this week is a profitable unicorn: Ibotta, a platform that gives users cash back and other rewards for online purchases. The Walmart-funded startup said it turned a profit of $38M last year and is targeting a $2.5B valuation when it goes public.

Ibotta and Rubrik could warm markets up for a hot IPO summer: event ticket marketplace StubHub is reportedly looking to go public this summer at a whopping $16.5B valuation.

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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