IPO season: Patience required

PARAGRAPH 1 --- The IPO market in 2026 is experiencing a surge, with 79 U.S. IPOs raising $112.5 billion, a 625% increase from 2025. Notable companies like OpenAI and SpaceX are planning to go public, potentially triggering FOMO-driven decisions. Meanwhile, South Korea's IPO activity has plummeted due to governance reforms and high valuations of Chaebols.

PARAGRAPH 2 --- This IPO wave could lead to a $1 trillion stock market value wipeout if investors struggle to absorb the new equity supply. It may also reprice valuations in the tech sector, where many of these companies operate. Conversely, South Korea's equity markets face clouds due to the IPO bust, with only 15 listings in the first half of 2026.

PARAGRAPH 3 --- Upcoming catalysts include the IPOs of OpenAI and SpaceX, which will test investor appetite for high-profile tech listings. Additionally, watch South Korea's governance reforms, as their success or failure could dictate the future of the country's IPO market. Lastly, keep an eye on Kalshi's potential IPO, which could signal a broader trend in prediction market platforms.