Shares in recently listed tech groups Arm and Instacart have fallen more than a fifth from their highs, sounding a note of caution on the environment for new listings.
The early success of the first big tech initial public offerings for nearly two years has enthused Silicon Valley investors, who have been waiting to list shares in a large number of privately held tech start-ups.
However, shares in Instacart fell back to their offer price on Wednesday afternoon, having climbed as much as 40 per cent in early trading the previous day. The stock touched a low of $29.96, according to Bloomberg data, and closed down 11 per cent for the day at $30.10 — just 10 cents above its IPO price.
您已阅读20%（687字），剩余80%（2830字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。