Market Forces Haircut on IPOs

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With seven out of the 10 IPOs that priced last week now trading below their IPO price, CNBC reports that every single IPO deal so far this week has priced below the expected range. Moelis & Co.’s shares opened higher in their trading debut this morning, but only after an initial public offering that priced below the New York investment bank’s expectations, the Wall Street Journal reports.

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