Companies rethink IPOs in 2026 as market volatility tests valuations

Several companies have downsized, postponed or pulled their U.S. initial public offerings in 2026, as market volatility, valuation scrutiny and weak peer performance weighed on the new listings pipeline.

Goldman Sachs analysts said earlier this month that they expect the number of IPOs to double to 120 this year, but warned that a selloff in software stocks has underscored valuation risks.

In recent weeks, companies including Wall Street broker Clear Street, Brazilian fintech Agibank and Blackstone-backed Liftoff Mobile have trimmed deal sizes, withdrawn or pushed back their planned listings, as they wait for volatility to subside amid heightened investor scrutiny of aggressive pricing and lofty valuations.

Clear Street pulled its U.S. IPO a week after delaying it, becoming the second company this month to scrap its listing amid market volatility.

Earlier this month, the company had postponed the offering, hours after slashing its fundraising target by about 65 per cent.

Clear Street cited “current market conditions” for its decision not to proceed with the offering.