Warner Music Group is putting its plans to go public on hold while the stock markets shake from fears of a pandemic
Concerns over the spreading coronavirus have shaken the stock market for the past week.
When Warner announced its plans to go public, it acted with a nonchalance befitting a financially healthy company. Warner doesn’t necessarily need the money like a startup is desperate for capital or a private equity firm seeks a payday for a highly leveraged takeover.
Now Warner is left to wait for the IPO window to open again. But who knows when that day comes? Stock markets have been perilous and volatile. Last week, the New York Stock Exchange shed 11.4% on news COVID-19 infections were reported in Italy and Iran. News of cases in the United States and heightened federal and state reactions did not reassure investors.
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