Mortgage lender loanDepot leaps after huge IPO size slash
12/02/2021 17:17
** loanDepot Inc's LDI.N stock up 61.4% at $35.51 in its
second day of trading, and has now more than doubled from $14
IPO price
** Mortgage lender's stock opened flat on Thurs, but notched
first-day gain of 57% even after IPO size was slashed by >80%
and deal was delayed by a week urn:newsml:reuters.com:*:nL4N2KH1ST
** Investors have pushed back on mortgage firm IPOs on
skepticism that the home refinancing boom last year will last
** AmeriHome and Caliber Home Loans tried but failed to
price their IPOs in Oct urn:newsml:reuters.com:*:nL4N2HJ5UK
** And Rocket Companies Inc RKT.N , parent of mortgage
lender Quicken Loans, IPOd in Aug, though only after its deal
size was chopped by ~40% urn:newsml:reuters.com:*:nL1N2F81K3
** The IPO market remains hot as Blackstone BX.N -backed
online dating app operator Bumble Inc BMBL.O rises Fri,
extending searing debut-day gain on Thurs urn:newsml:reuters.com:*:nL4N2KI20B
urn:newsml:reuters.com:*:nL1N2KH2GO
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))