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IPOs and the Wealth Gap

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IPOs and the Wealth Gap
Reddit CEO Steve Huffman stands on the floor of the New York Stock Exchange while ringing a bell on the floor setting the share price at $47 in its initial public offering (IPO) in New York on March 21, 2024. Spencer Platt/Getty Images
Jeff Carter
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Recently, a few companies went public on Wall Street. One, Reddit, has done spectacularly. Former President Donald Trump’s social media network went public and hasn’t done so well. Astera Labs went public before both and is trading right around its IPO price. Public IPOs in 2024 are down by 70 percent from 2021.

Jeff Carter
Jeff Carter
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Jeff was an independent trader and member of the CME board, started Hyde Park Angels and West Loop Ventures in Chicago. He has an undergrad degree from the Gies College of Business at Illinois, and an MBA from Chicago Booth.