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New IPO’s Getting Crushed Today

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May. 13 2019, Updated 1:37 p.m. ET

Ugly

The day of reckoning seems to finally be here for new IPO’s that have done well.   LYFT is down another 7% today while UBER is down almost 10%.  Both have badly broken their IPO prices.

Zoom (ZM) and Pinterest (PINS) are down 9%, but are still above the IPO prices.

Nonetheless, it is not a good sign when fresh IPO’s tumble this badly.

The Nasdaq (QQQ) is now down 6% in the last 5 days as investors decide it is time for risk-off with the new Chinese tariffs now going both ways.  It’s ugly out there, and not getting much better.

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