Unappetizing offerings?

$Instacart(Maplebear)(CART.US)$ shares sank 10.68% on their second day of trading, closing at $30.10 — that's only 10 cents more than their initial public offering price. Meanwhile, $Klaviyo(KVYO.US)$ shares jumped 9.2% on their first day on the New York Stock Exchange. Last, shares of Arm continued sliding, losing 4.1% — famed tech investor Cathie Wood said she didn't participate in Arm's IPO because it looked overvalued.