April rush to the IPO window continues
. Four more companies have gone public so far this week.
Fairway Market (
), Taminco Corporation (
), Intelsat (
Hannon Armstrong (HASI)
all made their market debuts in the last two days. The returns
have been decidedly mixed.
Here's how each of the four IPOs has performed thus far:
After two days of trading, it's obvious that many investors
want to "be a part" of this New York grocery-store chain. The
stock posted a 33% gain in its debut, the fourth-best first-day
return of any IPO this year. Then, today, it tacked on another
8.2% to close at $18.77 - well above its $13 IPO price.
Technically, shares of this satellite service provider has an
OK debut, rising just over 3% today. However, considering the
stock debuted well below its expected IPO price at $18 a share,
today's modest returns have to be discouraging.
This company produces alkylamines and alkylamine derivatives.
Apparently investors were as clueless as I am about what those
are. The stock went public at $15 a share today, below its
expected IPO range of $18 to $20. Despite the "bargain" price,
Wall Street still didn't like Taminco; the stock slipped 2.7%
in its debut.
Simply put, this company's IPO was an outright disaster. Not
only did the IPO price below its range, but the stock plummeted
close to 9% in its debut today. That's a rather inauspicious
start for this clean energy REIT.
One more IPO,
Blackhawk Network (
, is scheduled to price this week. After that, there's not much
on the horizon.
It's possible that today's less-than-stellar performances
might scare a few potential IPOs away.