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Which of the following is TRUE about the day-1 returns of IPOs? A. Stocks of...

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Finance

Which of the following is TRUE about the day-1 returns of IPOs?

A. Stocks of profitable firms go up less than the stock of unprofitable firms on day 1

B. Utility IPOs tend to have the smallest day-1 returns

C. Roughly half of IPO stocks go up on day 1; the other half go down or stay flat

D. Banking IPOs tend to have the largest day-1 returns

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