AntiHippy.com

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

This entry was posted on Wednesday, August 27th, 2008 at 12:47 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.