IPOs have underperformed the S&P 500 by a stunning 17% year-to-date, extending losses today to 26% year-to-date.
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This is the worst year for IPOs since 2008… right as Lehman collapsed…
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With private valuations still sky high in the minds of their VC ‘guru' investors, we suspect the fact that this year is now the worst year for IPOs since 2008 will begin to raise doubts about even the most unicorn-y opportunity.
Charts: Bloomberg
