Oatly, Procore debuts calm U.S. IPO jitters

[DearWallstreet.com] DWS Daily on May 20, 2021 EMAIL}/redirect [Oatly, Procore debuts calm U.S. IPO jitters Anirban Sen and Krystal Hu]( Image]( By Anirban Sen and Krystal Hu (Reuters) - Strong stock market debuts by oat milk maker Oatly Group AB and construction software firm Procore Technologies eased investor concerns on Thursday that U.S. initial public offerings (IPOs) could suffer a bout of volatility. At least three IPOs, including those of mortgage insurer Enact Holdings Inc and hearing care services company Hear.com, were canceled last week, the companies citing choppy market conditions for their decision. A sudden drop in the stock market, driven by concerns over inflation, pushed investors into safe-haven assets and prompted them to dump risky stocks. As these fears eased this week, the volatility that hampered IPOs subsided. Shares of Sweden-based Oatly, which counts celebrities like Oprah Winfrey and Natalie Portman among its investors, closed up 19% on its first day of trading on Thursday, while Procore Technologies rallied 30%. "We had a red hot market that everything was getting done. I don't see the windows being closed at all now. Healthcare and technology remain the open spot," said Mitch Nussbaum, chair of the capital markets and corporate department at Loeb & Loeb. The U.S. IPO market has been on an unprecedented tear in the last 18 months, driven mainly by investor appetite for tech stocks. Several high-profile technology companies, including Airbnb, Doordash, Snowflake, Roblox, Coinbase and Palantir Technologies took advantage of the hype to go public. More big startups, such as online brokerage Robinhood Markets, grocery app Instacart and electric vehicle maker Rivian are preparing to go public later this year. The IPO market raised a record $167 billion through new issues in 2020, according to data from Dealogic. That record is set to be comfortably eclipsed this year, as offerings have already raised well over $150 billion, driven mainly by floats of special purpose acquisition companies (SPACs). More companies are now turning to IPOs as investors fret over a bubble in the SPAC market. (Reporting by Krystal Hu in New York and Anirban Sen in Bengaluru; Editing by Karishma Singh) [WeWork reports over $2 billion quarterly loss]( (Reuters) - Office-sharing startup WeWork on Thursday reported a net loss of $2.06 billion for t...([Continue Reading]( EMAIL}/redirect [Halliburton shareholders reject executive compensation plan]( (Reuters) - Halliburton Co's shareholders did not approve an executive compensation plan, the oi...([Continue Reading]( [U.S. Treasury backs off 21% global minimum corporate tax rate, wants at least 15%]( By David Lawder WASHINGTON (Reuters) -The U.S. Treasury Department said it proposed a ...([Continue Reading]( EMAIL}/redirect GENERAL NOTICE AND DISCLAIMER - PLEASE READ CAREFULLY THE FOLLOWING NOTICE AND DISCLAIMER MUST BE READ AND UNDERSTOOD AND YOU MUST AGREE TO THE TERMS CONTAINED THEREIN BEFORE USING THIS WEBSITE OR SUBSCRIBING TO OUR NEWSLETTER.This is a PAID ADVERTISEMENT provided to customers/subscribers of dearwallstreet. 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