Though 2022 was a pretty IPO-less year, 2023 could signal a comeback in the tech IPO market, one analyst said.
The Nasdaq Composite nosedived into the worst bear market of the decade, and the tech-heavy index is currently 30% off its high. For instance, Steven Cohen of Point72 Asset Management aggressively scooped up shares of Amazon (NASDAQ: AMZN), growing his position 14-fold since the end of 2021. Amazon is now his 11th-largest holding out of more than 1,300 stocks.
This Latin American juggernaut continues to outperform, despite significant headwinds from a terrible economy.