Disappointing returns have made investors especially sensitive to the valuations of new IPOs. Along with a broad contraction in high-flying growth stocks (e.g. [[ZM]], [[PD]]), many of the year's most high-profile, highly-valued growth IPOs have lost 20% or more since listing ([[UBER]], [[LYFT]], [[WORK]], [[SDC]], [[PTON]]).
In October, 6 out of the 17 IPOs have priced below the range, or 35% of the month's total, the year's highest level (excluding January's single IPO). All but one of October's deals priced at or below the midpoint of the range, on average coming at a 9% discount,