Stock Watch: Ipos That Soar On First Day Often Turn Into Losers; Companies Fall Hard for Any Number of Reasons

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NEW YORK -- If you weren't able to buy shares of the summer's hottest initial public offering, Baidu.com, fear not. History shows that investors may be better off without the IPO of the moment.

IPOs that doubled, tripled or quadrupled their first day of trading have often come to bad ends. IPOs with less stellar first days don't exactly burn up the tracks with their long-term performance either. The fact is, IPOs in general may not be as good an investment as many investors believe.

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Stock Watch: Ipos That Soar On First Day Often Turn Into Losers; Companies Fall Hard for Any Number of Reasons

Jay R. Ritter, a professor of finance at the University of Florida who specializes in IPOs, studied IP...

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