Jay Ritter

Kelly Evans: Boring IPOs are better IPOs

Arm’s IPO today is being met with skepticism for a reason. The company did used to be one of the hotter stocks in the market, back before Softbank – best known for wildly overpaying for WeWord – bought it and took it private in 2016.

Now, its core end market, smartphones, is much more mature and barely growing. Softbank is only floating around 9% of shares to the public, way lower than the 29% average, according to Cordell Eminent Scholar Jay Ritter.

Read more in this story from CNBC.