The IPO boom isn’t lifting all boats. Shares of mobile e-commerce firm Wish started trading on Wednesday, only to fall 13% from its IPO price of $24 early on. The dip shows that investors are picking and choosing, regardless of recent performance. Last week Airbnb and DoorDash, two of the best known tech names, went public amid intense investor demand. Shares of both soared from their IPO...
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After Tough Year, SPACs Tempt Bird, Lime
Dogged by questions of financial viability and then a pandemic that crippled demand for scooter rentals, Bird and Lime are taking steps to repair the damage. Bird is finalizing a deal to raise more than $100 million in convertible debt, led by existing investors Sequoia Capital and Valor Equity Partners, people familiar with the matter said. The financing comes after the scooter operator had...
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