By Bill Gunderson:Some IPO's like Facebook (FB) and Groupon (GRPN) are highly anticipated, while others that are not so sexy and glamorous can fly under the radar. Many times, it can the latter as opposed to the former that turn into the big winners over the years.
For the most part, I avoid IPOs like the plague. If you are not a part of the initial offering, chasing IPOs is almost always a fool's game. How many times have you seen them trade way above the offering price on their debut, only to fizzle out over the next several weeks or months?
You have to remember that companies rarely come public at an undervalued price. Instead they are trying to raise as much money as the marketplace will bear. In addition to this, valuations are difficult to do on new offerings. I prefer for companies to do their IPO and then establish
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