Managing Partner Joseph Lucosky Discusses IPO Market Trends and Nasdaq Listing Scrutiny on Bloomberg

Joseph Lucosky, Managing Partner of Lucosky Brookman LLP, recently appeared on Bloomberg to to discuss the current state of the IPO market and the impact of new exchange rules on companies seeking to go public.

During the segment, Lucosky explained that the IPO market is currently split into two distinct segments. According to Lucosky, the top end of the market continues to see strong activity, particularly among technology and artificial intelligence companies backed by institutional investors.

By contrast, the emerging growth IPO market has slowed in recent months. Lucosky pointed to rule changes adopted by Nasdaq in late 2025 that allow the exchange to apply discretionary factors when evaluating companies seeking to list their securities.

Lucosky noted that emerging growth IPOs historically represent a significant portion of the market, with 134 such IPOs completed in 2025, including 101 foreign private issuers.

Because of volatility seen in several offerings, Nasdaq introduced additional review considerations when determining whether a company should be approved for listing. These factors may include the quality of management teams, the experience and credibility of advisors, geographic considerations, and overall suitability for the public markets.

Importantly, these discretionary factors may apply even when a company meets traditional quantitative and qualitative listing standards, introducing a new layer of review for prospective issuers.

Lucosky explained that these changes are temporarily slowing activity in the emerging growth IPO market as companies and advisors adjust to the new regulatory framework.

Watch the full Bloomberg segment here:
Greater Scrutiny Facing Companies Ahead of IPO