No.2
Sacks Parente Golf (SPGC) soared on its first trading day Aug. 15. The IPO stock gained an astonishing 614% in a one-day glory run from an IPO price of $4 per share.
That made it the best first-day performance for any U.S. IPO so far this year, according to Dow Jones Market Data.
But the next day, the glory was gone. The IPO stock dived 84% and is now trading below the initial offering price, as seen on IBD MarketSmith. Often, IPOs see a frenzy of buying on the debut and give back much of that first-day push. But it's quite rare for a stock to rise so much on its first day of trading and give it all back so quickly.
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