DJ Median 2019 IPO Underperforming By Historic Margin -- Market Talk
11:00 ET - The median 2019 initial public offering is underperforming the Russell 3000 by about 3 percentage points, according to a Goldman Sachs analysis of the one-month relative performance of IPOs from their close on the first trading day. That is the largest such underperformance since at least 1995, the bank says. Recent declines in Peloton Interactive and SmileDirectClub following their IPOs have followed drops in ride-hailing firms Uber Technologies and Lyft earlier in the year. In other signs of a chill in the IPO market, Endeavor Group postponed its IPO last week after WeWork pulled its offering earlier in the month. (amrith.ramkumar@wsj.com; @AmrithRamkumar)
(END) Dow Jones Newswires
September 30, 2019 11:00 ET (15:00 GMT)
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