Here’s why Deliveroo stock tanked in its IPO trading debut

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Shares fell as much as 30% after its debut—but Deliveroo can actually still cancel its lackluster IPO. It was supposed to be one of the biggest tech IPO debuts on a foreign market, but when food-delivery firm Deliveroo started trading on the London Stock Exchange this morning its share price plunged 30%, wiping as much as $2.7 billion off the company’s market cap, reports Reuters. Read Full Story

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‘The worst trade ever’?: Seven investors who sold Apple stock on IPO day—and missed out on billions

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Forty years after Apple’s stock market debut, I tracked down the company’s earliest big sellers. Would they now beg for a mulligan? Here’s what I learned. This week marks the 40 th anniversary of Apple’s initial public offering, a legendary wealth creation event that still haunts those who missed out. A single share purchased on December 12, 1980 for $22 is now worth nearly $22,000. For those who savor the make-believe of perfect foresight, it is the ultimate woulda-coulda-shoulda fantasy. For early investors who sold their stake on IPO day, the pain is all too real. Read Full Story

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Why are there so many IPOs during a pandemic? Here are 4 reasons

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As usual, Wall Street is finding a way to make it rain green. It’s a big month for IPOs: Airbnb and DoorDash are both going public this week, and online video game company Roblox and fintech Affirm are set to follow. DoorDash sold shares at $102 (above estimates), and then closed its first day of trading at $189. How is this happening in a country gripped by a coronavirus pandemic and high unemployment? In the topsy-turvy logic of the stock market, financial wins are possible. Here are a few reasons why: Read Full Story

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Poshmark’s explosive IPO bodes well for the resale industry, but how sustainable is secondhand?

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Poshmark’s stock soared on its first trading day. We chat with the company’s CEO about what comes next for resale. Used clothes, it turns out, are worth a lot of money. Poshmark, which had a hotly-anticipated IPO last week, ended its first day of trading with a valuation of $7.4 billion. It’s a sign that the secondhand market is booming and that investors see continued potential for growth. Read Full Story

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