According to a TechFlow report on February 13th, Wall Street brokerage Clear Street announced a postponement of its planned U.S. initial public offering (IPO) originally scheduled for Friday, citing unfavorable "market conditions." Hours earlier, the company had drastically reduced its Nasdaq IPO size from its initial target of $1.05 billion to $364 million. Based on the upper limit of the reduced range, Clear Street's valuation is approximately $7.2 billion, lower than its previous target of $11.8 billion.
According to IPOX researchers, the recent sell-off in AI-driven financial stocks may have weakened investor confidence, while the sharp decline in the cryptocurrency market has also had an impact, as Clear Street has served as underwriter for several cryptocurrency fundraisings, notably Strategy's latest offering. Founded in 2018, Clear Street stated that it plans to reconsider its future IPO plans.
