, a trend highlighted recently when office-sharing startup WeWork was forced to scuttle its much-anticipated market debut due to skepticism about its business model, corporate governance and burgeoning losses.
Underscoring Wall Street’s increasing selectiveness, SmileDirectClub and Peloton Interactive have tumbled 49 per cent and 24 per cent, respectively, from their September IPOs, even after analysts from the banks that underwrote their market debuts published a deluge of “buy” recommendations. This year saw a series of IPOs from “unicorns” - rare startups valued at over $1 billion - as their investors rushed to tap equity markets near record highs. But many investors of late are refocusing on safer investments.
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