Since the close on its first full day of trading on June 22nd, Blackstone Group (BX) has not finished a single session in positive territory. Looking back at prior IPOs in the US of $500 mln or more since 2000, we found that no other IPO with an initial value of $500 mln or more has gone this long without an up day (even Vonage (VG) had two up days during its first six days of trading).
Measuring Blackstone's (BX) performance based on the percentage change since the close of its first full day of trading shows that while the stock has not been the worst since 2000, it did make the top ten with a 17% decline. Interestingly, Fortress Investment Group (FIG), another high profile IPO of this year, also made the list of the top 20 with the worst six day post IPO performance.
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