Trump was supposed to unlock IPO market, but CoreWeave debut reflects ongoing skepticism

CoreWeave Inc. signage during the company's initial public offering at the Nasdaq MarketSite in New York, US, on Friday, March 28, 2025. It wasn't supposed to go down like this. The Trump presidency was set to usher in a rush of money to the markets, spurred by a new era of deregulation and lower taxes that would lead high-valued tech companies off the sidelines and onto public exchanges after a four-year lull in initial public offerings. Goldman Sachs CEO David Solomon said in January that he sensed a "more constructive kind of optimism" and that the IPO market is "going to pick up." But a little over two months into President Donald Trump's second White House term, the first test case has been a flop. After downsizing its IPO late Thursday and pricing below its expected range, CoreWeave was unchanged in its market debut on Friday, closing at $40 and leaving the company with a market cap that's right around where the company was valued by private investors a year ago. The debut ... Read full article.