The hottest debate on Wall Street right now: Does the flood of mega-IPOs and new shares signal a downturn ahead? That depends

Wall Street debates whether the surge in mega-IPOs and new shares from companies like SpaceX, OpenAI, Anthropic, and Alphabet signals an impending market downturn. Economists at Capital Economics warn that high equity issuance historically preceded bear markets, while Deutsche Bank analysts argue strong market returns typically follow issuance waves.