ARM - this is what I expect to see these days. Every once in a while I'm pleasantly surprised to find something that hasn't gotten the bubble treatment yet (e.g. MU), but this one is far down the road already.  I remember the valuation being egregious when it IPO'd...and it has doubled since then. Mid September 2023 might go down in history as one of the best times ever to float an expensive tech IPO that has anything to do with semiconductors.  Has to be lots of FOMO out there in the frozen unicorn world, but I bet they are also wondering if they are too late.

I heard a PE guy yesterday talking about how there are a 1000 unicorns in the pipe right now wondering if they should go public.  Most don't want to IPO if it means a down round, but many have ridiculous valuations. I would be racing to go public and offload junk onto the public like RDDT did...but market can only take so of them in a short period of time.  Trump and RDDT employees probably never figured they would have anything in common - but both are probably praying a lot more while they wait for the lockups to expire.