Since the start of the year, three small IPOs have popped more than 400%. The gains proved to be short-lived, however: All three high-flyers have plummeted in the aftermarket and now average a -29% return from IPO.
Last week, Singapore-based Genius Group (GNS) became the latest micro-cap to soar on its debut, jumping 408% on its first day after pricing its downsized $20 million IPO at the high end of the range. The education company has tumbled 81% since its first-day close, and currently trades just below its offer price.
Genius joined Japanese retailer Yoshitsu (TKLF) and biotech Blue Water Vaccines (BWV), which popped 700% and 538% on their 2022 IPOs, respectively. Both are now trading below issue.
Since the start of 2021, 10 small issuers have popped more than 200%, all of which have dropped significantly in the aftermarket. The group now averages a...
To read the rest of the article, sign up for a free trial of IPO Pro.
