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Discount IPOs, CNNfn.
(From CNNfn News)
Byline: Ali Velshi
ALI VELSHI, CNNfn ANCHOR, THE MONEY GANG: That`s THE MONEY GANG mission control you were just looking at. That`s where it all happens. I`m just here to make them look good. It`s a busy, busy control room. Lots of screens, lots of things going on. When you call in to get the stocks questions answered that`s where it goes through.
One of the things we follow a lot here on THE MONEY GANG are these IPOs. We had actually a lot of them. A lot of companies are choosing these dog days of summer to make an initial public offering. July was the hottest month for IPOs in more than two years. Investors paid more than $6.2 billion for those shares.
Many new stocks, however, coming in at a discount. Their shares are selling for less than the company`s original asking price.
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