Over the last 25 years there have been plenty of IPOs. The biggest recent one, of course, has been Facebook (FB), whose shares have sagged more than 25% since their opening price of $38. Of course there’s still time for Facebook to turn around so it’s not on this list—yet. With that IPO in mind, S&P Capital IQ issued its list of the largest IPOs of the last quarter century by gross offering. Some, like Visa, UPS and Kraft Foods, have been great for investors.
That was interesting to see, but AdvisorOne looked at the list with a twist. We wondered which IPOs were the worst deals for those initial investors. Out of the 25 on the list, we found the seven that have suffered the biggest drop in stock price from their inception to June 15 of this year.
Here’s the countdown from the smallest losses to the biggest:
(These Boeing fuselages on rail cars were built by Spirit AeroSystems. AP Photo)
7. Spirit AeroSystems Holdings Inc. (SPR)
Stock Price Drop Since IPO: 10%
Gross IPO Offering: $1.43 billion
This company, which makes aerostructures for commercial aircraft and is part of the Canadian investment firm Onex, went public in 2006. The IPO went well, settling at an average price of $26, slightly better than the company’s projections. It was as low as $14.27 a year ago, but has bounced back to over $23.
(HCA headquarters in Nashville, Tenn.)
6. HCA Holdings Inc. (HCA)
Stock Price Drop Since IPO: 13%
Gross IPO Offering: $3.79 billion
When the biggest private hospital group went public in May 2011, the going price was $30 per share. That didn’t last long as the share price dipped to $17.03. Investors had to be wondering if there was any hope. Maybe there is, after all. Shares bounced back this month to $26 and change.
(GM CEO Daniel Akerson speaking to media before a shareholder meeting
on June 12. AP Photo)
5. GM (GM)
Stock Price Drop Since IPO: 33%
Gross IPO Offering: $15.77 billion
In November 2010, the mega-auto company went public, with a gross offering that was the third biggest behind Facebook and Visa. Since GM has reaped billions in profit, you might think that would make its IPO a winner—not so fast. The stock price this month was one-third below its opening price of $33. It’s taken such a beating that CEO Dan Akerson apologized to shareholders and vowed to get the stock price headed in the right direction.
(Lobby of Huntsman headquarters in Salt Lake City. AP Photo)
4. Huntsman Corp. (HUN)