{
  "id": 12248161,
  "title": "Since SpaceX’s debut, hopes of a blockbuster IPO season have ground to a halt",
  "url": "https://urgent.news/2026/10/05/since-spacexs-debut-hopes-of-a-blockbuster-ipo-season-have-ground-to",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T23:01:00.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/since-spacexs-debut-hopes-of-a-blockbuster-ipo-season-have-ground-to-a-halt/"
  },
  "original_language": "en",
  "account": "The debut of SpaceX in June seemed to inject a much-needed spark into the global IPO market, but that enthusiasm has fizzled out. Since the $75bn listing, Wall Street's IPO activity has tumbled, casting a shadow over an otherwise promising quarter. Oura, a maker of smart rings, recently postponed its own flotation, joining a growing list of companies that have put their listings on hold. This slowdown has been particularly jarring for tech giants like OpenAI and Anthropic, which were eagerly anticipated to join Musk's rocket ship back in the summer. The slowdown appears to stem from a combination of lukewarm investor demand and concerns over soaring valuations in the booming AI sector. Investment banks and analysts have pointed to these factors, noting that companies had prepared for IPOs with price expectations that now seem unrealistic given the current market volatility. The recent 'pop and drop' phenomenon, where investors swiftly sell off shares following an IPO, has also added to the uncertainty. While SpaceX's shares surged 19% initially, they have since declined, currently trading around $158.9. The slowdown in tech-heavy markets extends beyond the US, with even Shanghai-listed humanoid robot manufacturer Unitree Robotics seeing a 46.7% drop since its IPO. Analysts suggest that postponed IPOs may be citing adverse market conditions, but many firms are also blaming widespread market volatility. Oura, aiming to raise up to $2.2bn, cited \"uncertainty in the IPO market\" as its reason for delaying the listing. Holtec, a nuclear energy firm, withdrew its IPO filing citing unfavorable market conditions. Despite the gloomy outlook, there are glimmers of hope. The UK has seen only seven IPOs this year, but African payments firm Airtel Money recently confirmed its £5.3bn debut for October 14. However, overall investor sentiment remains cautious, with only 32% expecting a pick-up in activity in the next year, according to Berenberg's latest Investor Barometer, a significant drop from 63% six months ago.",
  "summary": "It was hoped SpaceX’s blockbuster June flotation would add rocket boosters to the global IPO market. But four months on, momentum has come crashing back down to earth. Wall Street IPOs have slowed considerably since Elon Musk’s $75bn (£56.7bn) listing, damaging what was once expected to be a quarter chock-full of floats. Smart-ring maker Oura [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}