Ditto jamwolfI personally never trust an IPO that's used to sell...

Ditto jamwolf

I personally never trust an IPO that's used to sell down the vendors holding, particularly if private equity involved, and never if this one is. Commiserations to those who thought they were doing the right thing in buying a defensive company. Modus operandi is always the same. Load them up with debt, prepare an optimistic forecast (always theoretically justifiable), and hock it off.

No new company will have loyal shareholders, as that always takes time. If things go poorly, new companies are always more susceptible to big price declines. This co will only have disgusted shareholders, that have created a fall that has been too far and too fast imo. This can be a two-edged sword. There will be a weight of potential sellers watching to exit - on a rise but also primed to stampede if there is more panic.

Bought a few with a 12 month view. By then, IPO costs will be history and my best guess is that the P/e and div (using the lower forecast) will require a revaluation on fundamentals. Good luck to all.