Big week for tech IPOs Reddit, Astera boosts Morgan Stanley after extended lull
Publishing timestamp: 2024-03-23 09:00:01
Summary
Morgan Stanley took the lead on IPOs for Reddit and Astera Labs, marking a positive turn for tech IPO bankers after a dry spell. The bank is set to collect around $37 million in fees, signaling potential growth in the investment banking unit. The market is showing signs of thawing, with successful IPOs for both companies. Goldman Sachs also had a successful year in 2021 with Instacart and Klaviyo IPOs. The future could bring more opportunities for follow-on offerings, debt raises, and acquisitions for top Wall Street firms. Morgan Stanley is using directed-share programs to attract new customers for wealth management and other services.
Sentiment: POSITIVE
Tickers: BCS, IOT, ABNB, RIVN, ALAB, DOCS, BARC-GB, GS, HCP, UNDEFINED, MS, RDDT, JPM,
Keywords: goldman sachs group inc, jpmorgan drn, samsara inc, reddit inc, doximity inc, rivian automotive inc, sam altman, astera labs inc, barclays plc, business news, morgan stanley, hashicorp inc, technology, klaviyo inc, breaking news, airbnb inc, instacart (maplebear inc), breaking news: technology,