In a recent Economist Espresso, there was an article titled Explosive potential: the IPO boom. (For details, go here.)
To summarize what we said, what the evidence shows is that with most IPOs, the average first-day returns are about 18% with no losses historically. Not one!
Three years later, the average historical return is a negative 18.7%, with almost no positive returns. Almost none!
We are talking about a review of over 8,000 IPOs here!
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