8 IPOs Canceled With Market in Flux
YOUNG MONEY Staff
12 August 2011
So far this year the Dow Jones Industrial Average has only fallen around 5 percent at this point, but the important index has fallen 10 percent in the past month and plummeted in the wake of the decision from Standard and Poor's to reduce the U.S.' credit rating. This uncertainty has turned many investors away from potentially more questionable companies, making particular trouble for companies like Groupon that have yet to post a profit.
"This kind of movement in the market that we've seen is definitely going to put IPO plan on hold for many companies," Darren Fabric, managing director of IPOX Capital Management, told the AP.
The IPO market was expected to take off this year, with some analysts predicting at the beginning of the year that there might be as many as the past three years combined, which would amount to more than 248. With 93 IPOs completed to this point, only one so far in August and another eight canceled for next week, those projections seems overly optimistic.
Beck Bamberger career career coach Careers collection agency credit card credit report credit score debt debt consolidation debt counseling Derek Hoffman employment entrepreneur profile Entrepreneurship Facebook financial literacy find a job get out of debt health insurance internet scams Investing Laura Tirello life coach marketing Mike Michalowicz Money Management mortgage new company paying for college personal finance recession save money saving money Shopping social media start a business student loans the edge Toilet Paper Entrepreneur Travel unemployment video young entrepreneur young entrepreneurs
- Most Read
- Most Emailed
- Most Comments
Financial help Center