IPO is trading at $57.52 (-1.87%) as softer information technology names and a broader Nasdaq decline pressure growth-oriented equities.
- Investor focus remains on upcoming Fed minutes, which are weighing on duration-sensitive tech valuations and mid-cap growth exposure.
- While AI spending and semiconductor demand continue to underpin the sector, a pause in these trades is contributing to a broad growth-stock pullback rather than an IPO-specific issue.