Story updated with Groupon's closing price.
NEW YORK (
TheStreet) -- It's time for investors to get real about IPO's after
(GRPN) launched its
For those dabbling in IPOs, it's clearly always been a stock picker's game. Even so, the game may be changing in the favor of companies like Groupon.
Every time a company lists on stock exchanges and pops in its first day of trading, it's hard to escape the excitement. For example, Groupon sold nearly 5% of the company and its first day of trading sent shares to $26.11 -- more than 30% above its $20 a share offer price.But while the S&P 500 is up nearly 2% and Dow Jones Industrial Average is up nearly 4% in the last year, the 193 total IPO issues done in that time have fallen an average of 9.3% according to data compiled by Bloomberg. Some of those IPOs like LinkedIn (LNKD), which has nearly doubled, and Dunkin' Brands (DNKN) are providing outsized gains, while others like Renen (RENN), Vanguard Health (VHS) and Freescale Semiconductor (FSL) are down at least 30%. In the last year, the five biggest IPOs came from private equity portfolios
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