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Blackstone becomes caught with IPO duds in 2010 including Bumble and Oatly

Blackstone becomes caught with IPO duds in 2010 including Bumble and Oatly

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Stephen Schwarzman’s yuletide season defintely won’t be providing tidings of good cheer, whilst alerts the conclusion a year in which their Blackstone group suffered one reduction after another. Post photo illustration

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It was a record-breaking season for IPOs, it is a blended case – and billionaire Stephen Schwarzman’s Blackstone Group try among those dealers who will be picking through their unique duds.

The private-equity monster keeps conducted a significant possession share in 10 firms that moved public from the ny stock market or Nasdaq this season, such as one companies that got sold to a so-called SPAC, or special-purpose acquisition team.

50 % of those firms – including the Bumble matchmaking software plus the Oatly oat drink brand name – are now dealing better below their own providing costs. Without a doubt, four ones need dropped significantly more than 30 percent within the last 3 months, like Oatly whose stock features plunged 50 percent, to $8.14 from $, while Bumble features dropped 35 percent through that exact same cycle, to $ from $.

That is in sharp distinction with the SP 500, which is up 24 percent regarding the 12 months, while the Nasdaq, which rose 19 %.