Though 2022 was a pretty IPO-less year, 2023 could signal a comeback in the tech IPO market, one analyst said.
A broad cross-section of stocks tumbled again on Tuesday as market watchers focused on the Federal Reserve Bank's ongoing battle against inflation. Over the past several days, a couple of strong economic reports have increased concerns about the trajectory of an already overheated economy. With that as a backdrop, shares of Amazon (NASDAQ: AMZN) fell 2%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) tumbled 2.4%, and Shopify (NYSE: SHOP) had slumped 4% as of 12:19 p.m. ET.
Amazon (NASDAQ: AMZN) and Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) are two of the largest companies in the world, with market caps of $960 million and $1.3 trillion, respectively. However, both still have plenty of potential for growth.