From this weeks IPOs not many remained tradeable:
ARBA was sure slated to be succesful, but GSPN surprised on the upside.
Within a short timeframe, if you were lucky and wagered a lot PASA was also a good trade, but sold off very quickly.
JNPR has the expected - scheduled opening near 100, but what, it languishes from there, and nothing remains to trade.
The other IPOs languished, if they did not became "broken" from the opening. NTNV was the weirdest case, priced 10.50, it opened at $7.50 where I bid, but I didn't get apiece, also not in the 8's. It was clear that it was carried up until 10.
So, for even skilled aftermarket traders there is nothing to do hence you have that performance.
With counted 11 IPOs for Jun 25, I expect quite a congestion on Mondqay and Tuesday.
I really don't understand the attitudes of companies and their underwriters to push the IPOs out of the door regardless of the market conditions. Tha can hamper the chances of the companies in the secondary market, if the IPO makes it feel and smell fishly. ...
Is it such a shame to postpone the pricing for a few days/weeks?
But we will see, with the flood it is impossible to follow and hence, I will sit back and watch. |
