The profitable smart-ring maker pulled back on September 29, citing IPO market uncertainty, as rising yields and rate fears make investors pickier about growth stocks.
Renaissance Capital data, September postponements and Motive's withdrawal show a market that rewards very large or AI-linked issuers while other deals get a mixed reception.
The smart-ring maker set a $40–$44 price range for 50 million shares, testing public-market appetite for venture-backed consumer hardware with a subscription attached.