If both NYSE and Nasdaq now have approval for direct listings, it won't change the competitive landscape too much. Yes, it's good for companies looking to go public, but I don't expect the listings business to change too much other than maybe some fee pressure.
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Will be very interesting to see how the i-banks respond to this. Sounds like they will hope for several direct listing bombs so they finger point and convince smaller companies it is too risky
There's also the SPAC option to consider - IBs get paid to advise the deal
