For the most part, the IPO market has been horrible this year. In fact, according to a report from Reuters, only three IT (information technology) companies have gone public this year.
Despite this, web-hosting company Rackspace (NYSE: RAX) still went ahead with its IPO this week. And, it was pretty bad for investors. On its opening day, the stock price plunged 20% to $10. Ironically enough, Wall Street was hoping that the Rackspace deal would help spark the IPO market.
Take from Nifty News