Look at any graph [1]. The cycle of IPOs goes up and down.
The "trend" pattern is cyclical.
[1] https://www.statista.com/statistics/270290/number-of-ipos-in...
The "trend" pattern is cyclical.
[1] https://www.statista.com/statistics/270290/number-of-ipos-in...
Wall Street is not keen to underwrite companies with valuations 20x+ revenue.