PO market set for rebound in 2024: Analyst

Despite a dismal 2023 for IPOs, Rainmaker Securities Managing Director Greg Martin sees a potential ""greenlight situation"" for a rebound in 2024. He notes positive drivers like a dovish Federal Reserve, falling yields, and economic stabilization are making conditions ""quite good"" for public debuts.

While risks like geopolitics remain, Martin expects ""a major 2024 if these conditions hold up."" He notes poor post-IPO performance for 2023 deterred further issuance, but a strong showing by some anticipated offerings could kickstart a ""jetstream"" next year.

In Martin's view, companies demonstrating ""stable, but profitable growth"" will attract investors focused on profitability rather than growth alone.