kevintx

GT Solar Picks the Wrong Day To Go Public

This IPO is remarkably broken, with sort of disorderly selling on Friday, its second day of trading. It fell to 9.3 or 44% below the IPO price before rebounding. The trigger was a major client LDK ordering from a competitor, compounding worsening sentiment in the solar sector and the recent poor general market. That's pretty panicky for this news, whoever was selling. The financial entities getting all the IPO might make for aggressive selling?