
Tariffs Got You Down?
Wall Street IPOs May Be a Solution for Volatility and Uncertainty
April 8, 2025 | Kevin Whiteley and Jason Bennick
"The impediment to action advances action. What stands in the way becomes the way."
Marcus Aurelius - Roman Emperor, Stoic Philosopher
"Meditations," Book 5, Section 20
Circa 175 A.D.
Market volatility often masks the underlying shifts that signal long-term opportunity. While headlines focus on daily fluctuations, corporate behavior continues to reflect strategic positioning—especially through public market entry. History shows that downturns are frequently followed by periods of meaningful recovery. As legislation evolves and sentiment adjusts, IPO activity can serve as an early indicator of renewed market confidence. The following analysis highlights this dynamic through current examples in the U.S. IPO landscape.
Convincing Narratives
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With investor sentiment experiencing a heightened fear across many sectors, sell-offs and other impulsive activity occur during dynamic policies, resulting in market volatility.
Subjective narratives circulating in news outlets and social media platforms fuel uncertainty; however, headlines evoke emotion, and article content remains fractional as this adjustment phase seeks stability.
Public media narratives heavily emphasize tariffs as the primary factor contributing to overall financial stress; however, such shortages have been declining for some time, as data indicates
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Recession Fears​
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Given numerous surrounding factors, a recession seems unlikely at this juncture, but rather a period of economic slowdown. Investor and consumer uncertainty is more likely to be the significant, dynamic variable contributing to current fluctuations. Greater awareness can provide opportunities for serious investors to access and diversify their portfolios at very affordable rates—especially amid an evolving, transitory period.

Source: Federal Reserve Bank of St. Louis and Heritage Foundation Economist E.J. Antoni

Mainstream markets—such as large-cap stocks, including those often referred to as the "Magnificent 7"—can offer viable investment opportunities. However, they also tend to direct long-term investors toward short-term strategies under the guise of stability. It is essential to recognize that sustainable, dependable growth typically unfolds over time and should not be expected to occur immediately.
One concept currently under consideration is the Mar-a-Logo Accord, which appears to include a strategized, weaker USD—as well as increased manufacturing in the U.S. and, correlatively, Treasury debt swapped out for Treasury Century bonds.(American stocks could thrive with a planned, weaker dollar.)
This accord, if implemented, could also enable the U.S. to not only provide security internationally—ensuring the United States sustains its position as a global leader and holding the reserve currency—but also recoup fiscal dominance by giving other nations access to U.S. markets. Another possible aspect is eliminating the IRS and instead establishing an ERS (External Revenue Service), which would focus on the collection of funds internationally. (Investors should consider whether the contingent accord would affect existing policies on capital gains.)
Changing the Narrative
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Overall, this notion becomes especially relevant during legislative uncertainty or economic transition periods. While hesitation and caution often dominate investor behavior in such environments, historical market cycles suggest a repeated, if not familiar, pattern: downturns are frequently followed by recoveries that not only restore previous valuations but, in many cases, surpass them.
Timing such initiatives during or just ahead of a recovery cycle can position these firms to benefit from renewed investor optimism and broader market momentum.
Each period of disruption has often served as a precursor to an acceleration in economic growth, market expansion, or sector reinvention.
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Given this historical context, periods of perceived instability have, paradoxically, served as fertile ground for forward-looking corporate strategies. For companies evaluating entry into public markets, this environment may represent a strategically favorable window to pursue an IPO.
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​Recent activity in the U.S. IPO market suggests that, despite broader macroeconomic uncertainty, there is evidence of relative resilience and investor confidence. Several companies have moved forward decisively:
(use cases)
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New Jersey-based data center operator Core Weave (CRWV), which has begun its IPO roadshow, will have shares priced between $36 and $64.​
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Ticketing platform StubHub (STUB), headquartered in New York, has filed[5] for IPO status, with share prices to be determined.
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California’s Chime, a Fintech platform, will be rolling out its IPO this year, having filed confidentially with the SEC in 2024.
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Titan America S.A. (TTAM)—an industrials company specializing in concrete, aggregates, fly ash, and similar products—presently has a market capitalization of $2.39 billion with proceeds of roughly $393 million. The Virginia/Maryland/ Pennsylvania-headquartered, heavy-building-materials producer is currently on an upswing, with shares priced at around $12.
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Texas-based Flowco Holdings Inc. (FLOC)—an energy company conducive to solutions for Exploration & Production operators—has a market capitalization of $2.01 billion, made $427 million in proceeds, and is trading at nearly $19 per share. Company stock is at a very competitive price.
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Additional, U.S. companies are enduring the economy and market, with active IPOs and shares readily available to investors. Kestra Medical Technologies, Ltd. (KMTS), a medical wearables and digital-healthcare entity, has shares currently at roughly $23, a market capitalization of $1.19 billion, and is performing on the higher end of its annual range. The Washington-based company saw nearly $233 million in proceeds at its IPO and is ultimately ascending in share price.
A Storm of Opportunity
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Collectively, these examples suggest that investor interest in public offerings remain positive, particularly when issuers demonstrate operational strength, sector relevance, and credible growth potential. Moreover, the pricing and performance of recent IPOs appear to reflect a valuation environment that is both accessible and grounded in realistic expectations.
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As investors continue to navigate shifting macro conditions and explore alternatives to more volatile market segments, the IPO space may offer a complementary pathway to demonstrable recovery.
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While no outcome is guaranteed, the structure and momentum currently visible in the U.S. IPO market indicate that, for well-positioned companies and discerning investors alike, this segment may provide meaningful opportunities within an otherwise cautious investment landscape.
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(Disclaimer: This content is for research purposes only and does not constitute financial advice. Market capitalizations and share prices may change without notice.)
Sources:
https://x.com/RealEJAntoni/status/1906689803518722168
https://www.youtube.com/watch?v=Pi3EgvQsIps
https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-declares-national-emergency-to-increase-our-competitive-edge-protect-our-sovereignty-and-strengthen-our-national-and-economic-security/
https://www.apolloacademy.com/what-is-the-mar-a-lago-accord/
https://financialpost.com/investing/mar-a-lago-accord-gets-wall-street-attention
https://www.marketplace.org/2019/08/29/what-is-century-bond-why-appealing/
https://www.bloomberg.com/news/articles/2025-03-24/morgan-stanley-s-wilson-says-tide-may-turn-in-favor-of-us-stocks
https://www.sec.gov/Archives/edgar/data/1769628/000119312525058309/d899798ds1a.htm
https://x.com/zerohedge/status/1902902993948639540
https://www.sec.gov/Archives/edgar/data/1337634/000119312525060140/d225849ds1.htm
https://accessipos.com/chime-stock-ipo/