Ally Financial (NYSE: ALLY) went public today and dropped 4% early. But that’s not the only reason for investors to avoid ALLY stock.
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- IPO Calendar 2014: ALLY, LQ, and 12 More Hit the Market This Week
You've no doubt seen their commercials. They used to be all over the tube hawking their high-yielding certificates of deposit. Now they're all over the tube with their "no hidden fees" campaign.
I like the one where the woman is afraid to try new things because she's had bad experiences before. Her mechanical dog sparks a fire when he drinks water and her trainer hooks her up to electrodes that zap her. I like these commercials; they're funny.
The 2014 IPO calendar will see one of its busiest weeks yet when 14 companies make their public debut this week.
According to the research firm Renaissance Capital, 71 companies have already gone public this year. That's an increase of nearly 122% from this time last year. A total of 116 IPOs have been priced in 2014, which is the highest total in more than a decade.