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Biggest US IPOs fall or keep falling amid gains elsewhere

[SAN FRANCISCO] Some lost from the start. All have lost since August.

All of the eight companies that raised US$1 billion or more in US initial public offerings this year have fallen from their earlier peaks.

Two of the stocks -- SmileDirectClub Inc and Peloton Interactive Inc -- never rose above their offer prices. Even Pinterest Inc, whose shares in August had risen 92 per cent from its IPO, has joined the downward slide, with its shares now up by only 38 per cent.

Overall, the 146 companies that have gone public on US exchanges this year have gained only 0.6 per cent based on a weighted average, according to data compiled by Bloomberg. That's a sharp contrast to the 42 per cent increase for the 773 listings on exchanges outside the US.



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