The IPO market roared to life two weeks ago, fueled largely by the success of Splunk
Most of the other companies that went public that week went on to post double-digit gains.
Unfortunately, last week was everything that the prior week was not. The four companies that dared to go public were initial duds.
Let's take a closer look at the companies that went public last week.
April 27, 2012
You know it's a bad week when the winner is only trading 2% higher, and the other names close out the week in the red.
Acquity is a digital marketer. It has offices in 10 cities in the United States as well as a couple of offices in China.
Edgen is a Louisiana-based distributor of products to the energy sector. Edgen's specialty products include steel pipes and valves.
Ares Commercial Real Estate is a REIT that buys into middle-market commercial real estate loans.
Envivio offers solutions for multiscreen video processing and delivery. It was the only IPO to close higher last week, and the shares even managed to inch higher during yesterday's soft market.
There are more promising IPOs on the slate for this week, including private-equity firm Carlyle Group and apparel retailer Tilly's. EverBank Financial -- the banking company that's best known for its high-yielding money market fund and CDs -- also plans on going public later this week.
It really can't get worse. Right?
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