Oops. Another day, another failed IPO. Private equity group Blackstone’s darling La Quinta IPO’d at $17 last night raising $650 million (at a multiple of 47 times last year’s earnings). This was already below the low end of the range ($18 to $21) but this morning’s open shows it seems the ‘public’ is not buying the hyper-growth story anymore….
via Zero Hedge http://ift.tt/1eqOeDW Tyler Durden