DJ Orthopedics Falls Again After IPO
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DJ Orthopedics Inc. shares fell for the second straight day after its initial public offering, marking the worst debut for a new company in five months.
DJ Orthopedics (ticker symbol: DJO) dropped $1.05 on Friday to close at $14.20. That extended losses since its IPO on Wednesday night to 15%. The Vista, Calif.-based company sold 9 million shares at $17 each.
Goldman Sachs & Co. (GS), which managed the sale, told institutional investors before the sale that the maker of sports medicine equipment wouldn’t meet analysts’ estimates for the fourth quarter.
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