Word: pennymac
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Dates: during 2009-2009
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...investors have been cautious on the group, giving only lukewarm receptions to four entities that recently went public in the sector: PennyMac raised only $335 million in its IPO - less than half of the $750 million it had expected - and its stock fell below its opening price after trading began; Invesco Mortgage Capital Inc. (IVR) raised $170 million; and Cypress Sharpridge Investments (CYS) grabbed $100 million. Starwood fared better, raising $810 million - the second largest IPO this year - but its share price also slipped below its IPO price the first day. (See which businesses are bucking the recession...
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