E=MC IPO-ed? The Market's Back, Baby!

A Quantum Leap for IPOs

Greetings fellow thinkers! It seems even the financial world is experiencing a bit of relative excitement these days. Recent IPOs have indeed perked up the market leaving many to wonder if the long slumber is finally over. Several companies have not only met but exceeded expectations – which frankly is more surprising than discovering my hair's disarray wasn't entirely my fault. As I always say 'The only sure thing about luck is that it will change.' And indeed it seems to be changing for the better at least for now.

Circle's Flight: A Stablecoin's Ascent

Circle's IPO priced above expectations more than doubled on its first trading day. It reminds me of the time I tried to explain general relativity to my barber – a noble endeavor but the results were... astronomical. Online banking stock Chime and stock brokerage eToro followed suit soaring after their debuts. Hinge Health also made waves giving the health tech firm a valuation above $3 billion. One might say the market is like a box of chocolates you never know what you're gonna get but these recent happenings are surely delighting investors.

Momentum: A Force to be Reckoned With

According to Avery Marquez at Renaissance Capital U.S. markets are experiencing significant momentum. It’s as if the market itself has finally understood that 'the important thing is not to stop questioning'. Indeed the U.S. IPO market has seen 150 deals raising nearly $27 billion in 2025 the most since 2021. It’s a welcome change after navigating through the black holes of economic uncertainty.

Trump's Tariffs: A Ripple in the Spacetime Continuum

Ah tariffs! Even I a humble physicist understand that trade policies can introduce quite the uncertainty. President Trump's tariff policy had initially dampened the IPO market causing companies to delay their public debuts. But with a pause in these tariffs the market has found some relief. As I often said 'In the middle of difficulty lies opportunity'. Seems the market has grabbed the opportunity to get back on its feet.

Higher Rates: A Financial Black Hole

Of course tighter financial conditions thanks to the Federal Reserve still present a challenge. Higher interest rates have made investors more discerning demanding profits and proof of profitability. It seems they've adopted a 'show me the money' mentality which I suppose is fair. As I often said 'The value of a man should be seen in what he gives and not in what he is able to receive.'

The U.S. Grip: Slipping or Shifting?

The U.S. IPO market appears to be losing some of its global dominance with U.S. IPOs accounting for 48% of global capital raised down from 58% in 2021. Bank of America even downgraded CoreWeave which went public in March. Nevertheless there is a strong private pipeline of companies preparing for IPOs. So while the public pipeline may seem slim the private pipeline is teeming with activity. It is almost as though we are discovering new galaxies through the telescope of investment and the possibilities seem infinite. One thing is certain the world never stops changing; and when it does you have got to change too.