Arm IPO Sparks Market Surge and Boosts Bank Stocks
Venture capitalist Rick Heitzmann, known for his investments in Airbnb and Pinterest, believes that Arm Holdings' successful IPO will help jump-start the IPO market. Heitzmann suggests that there is a real fundamental demand for IPOs, and people are looking for new investment opportunities. He believes that Arm's executives set the IPO for success by pricing it for a pop and having a limited float. Heitzmann expects next week's Instacart IPO to follow in Arm's footsteps and perform well, citing its advertising business as a boost to its bottom line. However, he questions the appetite of traditional IPO buyers for Instacart and marketing automation company Klaviyo.