Initial public offerings (IPOs) perform ____ on the day following the IPO and ____ for periods of a year or longer after the IPO.

Question

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IPOs typically perform well on the day following the IPO due to initial investor excitement and demand, but they often perform poorly over longer periods as the initial hype fades and the market adjusts to the company's actual performance and valuation.

Initial Public Offerings (IPOs) Perform ____ on the Day Following