It's been a strong year for IPOs, with 273 issues brought to market for a public stock offering, according to figures compiled by Renaissance Capital, an increase of 23 percent over last year. Those offerings raised a total of about $55 billion, up a solid 55 percent over 2013.
But there's one sense in which the IPO market was weaker than last year. The "pop" that first-day investors received for investing in an IPO was just 13.3 percent. That's down from the 17.3 percent that IPOs gained on their first day in 2013.
In fact, a sizable of number of 2014's IPOs not only missed out a first-day pop this year, but they actually lost ground. Nearly 28 percent of all such offerings lost value on their first day - the highest percentage in three years.
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