Oura confirmed Thursday it filed IPO paperwork with the SEC, triggering massive market moves that erased months of skepticism. The market's response was swift and decisive — odds for an IPO announcement before October 2026 jumped from 14¢ to 56¢, while longer-term bets surged even more dramatically. The company's $11 billion valuation and fourfold revenue growth over two years appears to have convinced traders that public markets are inevitable. What's striking is how uniform the optimism is across all timeframes — every single Oura market moved upward by 40+ cents, suggesting traders see the confidential filing as a point of no return rather than mere preparation. A possible Ring 5 announcement on May 28 could explain why Oura wants IPO momentum building alongside a new hardware cycle.