Stunning to watch the precipitous decline in the closely tracked American Association of Individual Investors (AAII) Investor Sentiment Survey. The February 26 print of 19.4% marks a significant downward move from the prior week (29.2%), suggesting a give-up in investor confidence is underway.

General stock market health, here and abroad, and improving investor confidence will prove to be the transmission mechanism for healthy IPO outcomes in 2025.

On the heels of a stronger than expected US June quarter results season, companies listed on the ASX posted results ahead of, or at least in line with, market expectations.