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October 13, 2006 Adverse Market Conditions with the DOW nearly at 12,000?
The IPO market remains tough despite the Dow flirting with 12,000. This week or early next might well be the day that we look back upon as the day that we broke the 12,000 barrier with the Dow. Ironically, yesterday three IPOs were pulled from the market citing "adverse market conditions." Its interesting how we are setting new peaks on the Dow without the classic fuel of new IPOs. According to the WSJ, so far in 2006 51 deals have been "yanked or delayed" compared to 45 last year. Simply making an S-1 filing as an emerging private company is only part of the battle as the markets continue to be difficult for an IPO exit.
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