NASDAQ chair and CEO Adena Friedman discusses the impact of the NYSE's glitch at Tuesday's opening bell and the status of the IPO market on 'The Claman Countdown.'to discuss the status of the IPO market and what investors can anticipate following an extremely volatile year in 2022.
Friedman explained that investor demand struggled in 2022 because of the "soup of macro-issues" that catastrophically blurred their ability to determine a company's future."I'm with investors over the last year, they've had to deal with a rising interest rate environment, a rising inflationary environment, you know, geopolitical unrest and frankly, the recovery from the pandemic.
And what that means, you know, fiscal stimulus is not as strong. You also have, you know, other changes in the macro dynamics. Right. So they're dealing with kind of what I call a soup of macro issues, makes it really hard for them to sit down and model the future of a company," Friedman explained, Wednesday.
Adena Friedman, Nasdaq President and CEO, speaks at the Sandler O'Neill + Partners Global Exchange and Brokerage Conference in New York, U.S., June 7, 2018. REUTERS/Brendan McDermiddifference in the IPO markets from 2021 to 2022, a dynamic that Friedman argues is "important to understand" before investing.
"So, it's as we always say, it's a supply and demand situation. There are about 200 companies on file to go public on NASDAQ. And so, as we look at the pipeline of supply, it's a really great, really strong pipeline of companies who want to tap the public markets. But then you need to have demand," the NASDAQ chair explained.
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