Market sell-off claims IPOs; 8 cancel deals

Aug 10, 2011 By TALI ARBEL , AP Business Writer

(AP) -- Wall Street's recent gloom is laying waste to the hopes of companies planning to raise money from investors.

Of the 11 companies slated to go public this week, eight have canceled their initial public offerings and one has slashed its deal size in order to get the transaction done.

The recent in the is hurting demand for IPOs. That's a reversal from earlier this year, when big debuts from technology and retail companies had analysts predicting the strongest year for new listings since before the .

Only one company has gone public in August, after eight launched in the last week of July.

Two-thirds of those recent IPOs have declined since hitting the market, losing their investors money in this month's market rout.

Explore further: Apple's stock bounces back to hit a new high (Update)

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Analysts expect to see more wireless IPOs

Feb 24, 2006

Investment in the wireless technology industry is on the rise, and analysts expect to see more companies issuing initial public offerings on the stock market.

KKR, tech companies to go public this week

Jul 13, 2010

(AP) -- A handful of young technology companies are expected to kick off the market for initial public offerings in the third quarter on a hopeful note.

Vonage IPO points to VoIP weaknesses

May 25, 2006

So much for thinking telecoms might be going back to the heydays of 1999. After much fanfare, Internet telephone provider Vonage launched its initial public offering Wednesday, only to fall flat on its face. What's more, ...

Recommended for you

Apple's stock bounces back to hit a new high (Update)

55 minutes ago

Apple's stock touched a new high Wednesday, reflecting investors' renewed faith in CEO Tim Cook's ability to outwit the competition and expand the technological hit factory built by the late Steve Jobs.

Apple's freshly sliced shares climb

6 hours ago

Freshly split Apple shares closed at a high on Tuesday, with investors evidently betting the California company will debut popular new gadgets, perhaps a smart watch and an iPhone 6.

User comments : 2

Adjust slider to filter visible comments by rank

Display comments: newest first

Techno1
not rated yet Aug 10, 2011
I am for regulation of the Stock Market, as well as increased transparency in corporate revenues and records keeping (even if it requires some changes to the 4th ammendment...)

The stock Market creates "Artificial wealth" by decietfully driving up or down the price of goods. Take the price of Gold, which changed by like $80 in the previous two days. Did the value of Gold change that much? No. Nobody announced any new technology, like Gold Fusion, or a nanotechnology, nor a time machine, nor anything else that runs on Gold.

So the change in price is an ARTIFICIAL change in wealth.

If you bought and sold gold at the right time in the past two weeks, you could make something like 200 dollars per share, just by moving around digital numbers in a computer account, and having done no real "work," and having produced no real goods or services.

This is FRAUD, yet it is somehow perfectly legal...
Techno1
not rated yet Aug 10, 2011
It's not just Gold, most of the major stocks and bonds are like that. It's not an "investment", it's a fraudulent manipulation of wealth, often performed entirely with digital currency, and with no actual "exchange" of goods or services...

I believe there should be a law making it impossible to sell a stock or bond within 7 days of having purchased it, this to help prevent short term daily market manipulation and exploitations, such as in the fluctuation of the price of Gold and other metals, as well as currencies...