Thursday, October 23, 2008
"First" of the Day: The death of IPOs
It's been 10 weeks since a company has held an initial public offering [IPO] in the U.S., the longest period on record since Thomson Reuters began tracking deals in 1980. The last deal occurred on Aug. 8, when Rackspace Hosting Inc. made its debut on the New York Stock Exchange.
Initial public offerings, or IPOs, are the typical route for those hard-working, pizza-eating entrepreneurs you keep hearing about to cash in on their labor.
But now is a bad time to suggest to investors that they might like to buy an untested stock, especially since most IPOs issued in the past year are trading well below their initial price, Rackspace included.
Just when Simply Appalling was about to "go public"!
The Depression Chronicles – 1: Bankruptcies (4/19/08)