Recent IPO Movers of the Week (July 3-7, 2017)

Recent IPO Movers

It's a whole new set of stocks on our list of recent IPO* movers of the week. In spite of the short holiday week, there were some major swings.

Monster Digital Inc. (Nasdaq: MSDI) had a monster gain of 139.8%. The stock peaked on Wednesday after a merger with Innovate Biopharmaceuticals Inc. Shares dropped significantly over the next few days, along with most data storage stocks, but it wasn't enough to wipe out the huge weekly gain. Innovate will own 91% of Monster shares when the deal is completed.

Aileron Therapeutics Inc. (Nasdaq: ALRN) went public on June 28 at $15. The stock closed the next day at $10.80, but it has been on the rise ever since. The maker of stapled peptide drugs for serious illnesses gained 23.8% last week to close at $13.80 on Friday. Its lead candidate is still in early stage clinical trials, making this a largely speculative play for now.

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Shineco Inc. (Nasdaq: TYHT) was on its way to being one of Thursday's top gainers before the bottom dropped out, closing the day at an all-time low of $2.22. It finished the week at $2.33 to lead our losers list with a 22.9% drop. The herbal medicine company had its IPO last September at a share price of $4.50. Analysts are neutral to positive on Shineco, with most rating it a "Buy" or a "Hold."

The fortunes of Blue Apron Holdings Inc. (NYSE: APRN) continue to sink. After drastically lowering its price target a day before its IPO in late June, the stock has been on the decline ever since. Shares of the meal-kit delivery service fell 17.2% last week to fall to $7.73. Investors are still bracing for the effect of Inc.'s (Nasdaq: AMZN) June 15 purchase of Whole Foods Market Inc. (Nasdaq: WFM).

*Stocks are listed on a U.S. exchange with an initial public offering in the last year. Data and analytics provided by FactSet.

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About the Author

Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.

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