WDH - Bumble Coupang Honest Company and other once-hot stocks sink below their IPO prices

Wall Street’s recent love affair with IPOs has seemingly come to an abrupt end, with many of 2021’s hottest new stocks sinking below their offering prices and other deals canceled altogether.Bumble (BMBL), Coupang (CPNG), Honest Company (HNST), Loan Depot (LDI) and other stocks that enjoyed big pops on their first trading sessions have all dropped to below their initial go-public prices at least temporarily in recent days.Other recent initial public offerings like Onion Global (OG) and Waterdrop (WDH) failed to attract any initial pop at all, often tanking significantly from their offering prices instead.And on Thursday, Genworth Financial postponed its IPO for its mortgage arm Exact, while hearing-aid firm Hearing.com shelved its go-public deal as well.“The IPO market has always been hypersensitive to market conditions, [and] we are seeing this extreme sensitivity currently,” University of Florida professor Jay Ritter, an IPO expert, told Seeking Alpha.Ritter, who’s known as “Mr. IPO,”

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Bumble, Coupang, Honest Company and other once-hot stocks sink below their IPO prices