Morgan Stanley, Goldman Sachs stocks drop on possible OpenAI IPO delay

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Shares in Morgan Stanley ( MS ) and Goldman Sachs Group ( GS ) slid in Friday morning trading after a report indicated that OpenAI ( OPENAI ) is considering pushing its initial public offering off into next year. Goldman shares fell as much as 4.8%, and

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Shares of Morgan Stanley(MS) and Goldman Sachs Group(GS) fell on Friday morning after reports that OPENAI may postpone its IPO. OPENAI had been anticipated as a large tech IPO, and the major investment banks underwriting the deal had expected fees and improved results. A delay in the IPO dampens investor sentiment and reduces the IPO pipeline, which is negative for bank stocks and ECM (equity capital markets) in the short term. However, the listing delay could generate countervailing positives in some areas, such as increased trading volatility or additional investment opportunities for private equity and VC.

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