The market for initial public offerings is getting too euphoric and unhealthy in the longer term, according to Goldman Sachs Chief Executive David Solomon.
“ ‘I do think we’re at a moment in time where there is a lot of euphoria…and I don’t think in the long run [that] that’s healthy.’ ”
The comments from the investment bank boss, made during a joint interview with Warren Buffett earlier Tuesday on CNBC, come as investors and market participants are expressing consternation about what has been described by Barron’s as a market for IPOs that is “starting to feel like 1999 all over again.”
Solomon addressed complaints that traditional IPOs weren’t being properly priced by bankers and that they are fostering public offerings that see prices zoom higher, including those from DoorDash DASH,
The Goldman GS,
Indeed, shares of DoorDash DASH,
Some analysts also fear that valuations of stocks in the Dow Jones Industrial Average DJIA,
