10 IPOs that flopped

Published: June 1, 2012

Facebook's IPO may have failed to live up to expectations, but the social networking company is not alone as other companies befell the same troubles.

Hertz

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The venerable rental car company, once owned by Ford Motor, was bought by a private equity group via a leveraged buyout in 2005. Just a year or so later, management took Hertz public at $15 a share, pocketing a cool $1.4 billion in the process. But the short turnaround between going private and going public worried many investors, who thought the new owners treated Hertz like a rental. The stock eventually rose to more than $26 by June 2007. By Feb. 2009, however, shares of Hertz had fallen to around $3. Seven years since the IPO, Hertz stock is trading at nearly $13 — still below its initial offering price.
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