Good news for the IPO market. Or is it?
Shares of many high-profile companies that recently went public have rebounded much more sharply from their mid-March lows than the surging tech-heavy Nasdaq Composite.
This includes companies that had heavy hedge fund ownership when they were private, including affordable eyeglass frame maker Warby Parker, electric vehicle maker Rivian Automotive, software company Freshworks, cloud computing company Toast, eco-friendly sneaker maker Allbirds, and Korean e-commerce company Coupang.
But
