📊 IPO Boom: Fuel For Small-Caps?

Good Morning Investors,

IPO activity added to the positive tone, with a hot pipeline keeping deal flow alive for smaller issuers. Ongoing capex in AI and semiconductors, alongside strength in large-cap technology, provided a lift for small-cap suppliers linked to the broader innovation cycle.

Macro risks remain a caveat. Markets largely shrugged off the U.S. government shutdown, but analysts warned it raises the risk of data gaps and growth uncertainty — a factor that could weigh more heavily on cyclical small-caps if disruptions extend.

Matthias Schneider
Editor at Analytica Investor