Porsche IPO Aims to Put Global Stock Markets Back in Top Gear
The stock market finally broke out of its slump on Wednesday, but market participants appear disappointed with the lack of follow-through in premarket trading on Thursday. Futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) were down as much as 1% as of 9 a.m. ET, giving back a sizable portion of their gains from the previous day.
The bear market in stocks in 2022 has brought the initial public offering (IPO) market to a screeching halt, with a huge decline in the number of companies seeking to come public. That's only natural in a market environment in which privately held businesses can't expect nearly as favorable a reception from investors as they would have gotten during the boom times in 2021. However, that didn't stop German automaker Porsche from doing an initial public offering in Germany, and car enthusiasts and would-be shareholders alike are paying close attention to how the IPO is going.
Image source: Porsche.
Source Fool.com
