Christian Munafo surveys the IPO market, saying the pro-business policies people expected from the Trump administration this year are materializing despite tariff situation, albeit at a slower pace. However, there are still notable IPOs this year, including Coreweave (CRWV), Voyager (VOYG), Chime (CHYM), and more. Still, he notes that even though, for example, Chime opened higher than its IPO price, it still falls under its private value after its last round of fundraising. Overall, he expects more high-profile listings and M&A activity but warns that companies will stay private for longer than usual.