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Biggest U.S. IPOs Fall or Keep Falling Amid Gains Elsewhere

Michael Hytha

(Bloomberg) -- Some lost from the start. All have lost since August.

All of the eight companies that raised $1 billion or more in U.S. initial public offerings this year have fallen from their earlier peaks.

Two of the stocks -- SmileDirectClub Inc. and Peloton Interactive Inc. -- never rose above their offer prices. Even Pinterest Inc., whose shares in August had risen 92% from its IPO, has joined the downward slide, with its shares now up by only 38%.

Overall, the 146 companies that have gone public on U.S. exchanges this year have gained only 0.6% based on a weighted average, according to data compiled by Bloomberg. That’s a sharp contrast to the 42% increase for the 773 listings on exchanges outside the U.S.

To contact the reporter on this story: Michael Hytha in San Francisco at mhytha@bloomberg.net

To contact the editor responsible for this story: Liana Baker at lbaker75@bloomberg.net

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