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Recent Tech IPOs Struggle as Several Trade Below Their Issue Prices
Several high-profile tech IPOs, including Klarna and CoreWeave, now trade below their issue prices as valuation concerns pressure late-stage listings.
Global IPO trackers indicate that major tech listings such as Klarna, CoreWeave and Figma are currently trading at or below their IPO prices, signalling a reversal in early optimism. Klarna’s stock, for instance, has slipped to around $29 compared with a $40 issue price. Analysts attribute the weakness to concerns over late-stage valuations, tightening financial conditions, and tempering growth expectations across AI and fintech.
The underperformance has prompted investors to reassess premiums previously assigned to high-growth technology companies.