IPO Drought Not Over

Grand Canyon Education braved the turbulent markets on November 20 and became the first company to go public in 104 days. Unfortunately what could have been the catalyst to put some life back into the US's IPO market, has instead served more as a deterrent. Grand Canyon strongly pursued its IPO, lowering its price range several times from an initial high of US$20 per share to US$12, and surprised the many who didn't believe it would even get off the ground.

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