Arm's debut isn't a barometer for the IPO market

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It's Instacart's debut that could serve as a pivotal moment for the IPO market after the success of Arm's listing a week ago.

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The move, according to the bank's prime brokerage unit, was mainly led by short sales, meaning that hedge funds were speculating on a decline in energy stocks' prices. Goldman Sachs, as one of the biggest providers of lending and trading services to investors through its prime brokerage unit, is able to track hedge funds' investment trends.

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