Medtronic's diabetes unit MiniMed valued at $5.3 billion as shares fall in Nasdaq debut

Company Overview - MiniMed, the diabetes unit of Medtronic, debuted on Nasdaq with shares opening 4.8% below the offer price, valuing the company at $5.3 billion [1] - The stock opened at $19.05, compared to the $20 offer price, and MiniMed sold 28 million shares, raising $560 million [1] Market Context - The IPO market is experiencing heightened volatility due to concerns over AI disruption and uncertainty related to the ongoing conflict in the Middle East, which has dampened investor appetite for new listings [1] - Wall Street's main indexes fell on the same day as MiniMed's debut, influenced by the Middle East conflict and a weak jobs report [1]