March 28, 2014
Another IPO broke below its offering price Friday, sending a fresh warning investors are getting their fill of new stock offerings after a blistering start to the year.
Everyday Health saw its initial public offering shares fall 6% Friday to $13.13 from the initial price of $14 a share. There were more signs of pain in the IPO market, too. Another of the day’s five IPOs, real-estate company Bluerock Residential, closed at $14.55 on its first day, barely above its offering price of $14.50.
These shaky first days of trading come just days after King Digital, maker of the popular Candy Crush mobile game, fell 16% in its first day of trading. Shares of King Digital have since fallen nearly 20% from their offering price of $22.50 a share.