Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
In August, the initial public offering (“IPO”) of Lineage, the world’s largest cold storage operator by capacity, led some members of the press to proclaim the return of the IPO market. The Rabid Capitalist warned that the market had not emerged from its stupor (see https://therabidcapitalist.com/2024/07/29/the-lineage-ipo-does-not-walk-the-line/). Lineage’s market value has collapsed, making it a fitting symbol of the IPO market’s health.
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