EPISODE · Jul 10, 2026 · 16 MIN
Wall Street’s I.P.O. Bubble Watch
from The Powers That Be: Daily · host Puck | Audacy
Bill Cohan joins Peter to make sense of an I.P.O. market that may be in way over its head. He discusses Bending Spoons, whose portfolio of old internet companies just went public at 35 times EBITDA, and Jersey Mike’s, the popular sandwich chain gunning for a $12 billion valuation. Bill explains why both are probably overvalued and evidence that Wall Street banks are willing to sell anything for a quick buck.
What this episode covers
Bill Cohan joins Peter to make sense of an I.P.O. market that may be in way over its head. He discusses Bending Spoons, whose portfolio of old internet companies just went public at 35 times EBITDA, and Jersey Mike’s, the popular sandwich chain gunning for a $12 billion valuation. Bill explains why both are probably overvalued and evidence that Wall Street banks are willing to sell anything for a quick buck.
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Wall Street’s I.P.O. Bubble Watch
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