2 IPO Disasters, 1 With a Massive Upside
The public markets have been a bloodbath so far for two recent IPOs. The bankers priced SmileDirectClub (NASDAQ: SDC) at $23 a share on Sept. 12, valuing the orthodontics start-up at almost $9 billion. And the markets refused to bite. The company lost almost $4 billion in market cap in a couple of weeks.
Next up on the chopping block was Peloton Interactive (NASDAQ: PTON), priced at $29 a share on Sept. 25. That share price put an $8.1 billion valuation on the company. Twenty-four hours later, the company watched as almost $1 billion of its net worth vanished in its first public trading session.
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Source Fool.com
