The shutdown may be having another adverse effect on U.S. markets: IPOs. 2019 was being touted as the biggest year for flashy public market debuts, but UBER and LYFT now believe the shutdown could slow the timeline of their listings, Bloomberg reports.
The final outcome, which also concerns active mergers and acquisitions, likely depends on how long it takes for the SEC to reopen.
“God forbid if we go into recession, normally the lull after that can be pretty long .From the top to the bottom, to the peak to the trough, in some cases can last up to two years,” Santosh Rao, Head of Research at Manhattan Venture Partners, explained. “I’m sure these companies don’t want to get caught up in that side. They want to beat that lull that comes after a huge rally.”
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