A successful Reddit IPO would be bad news for the bull market

POLAND – 2023/07/26: In this photo illustration a Reddit logo seen displayed on a smartphone. (Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images)

Sopa Images | Lightrocket | Getty Images

There’s nothing like a moribund IPO market to create a pleasant backdrop for a bull run. We’ve had some small biotech deals and the usual SPAC junk. But nothing big, seemingly for ages.

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