Beyond Meat IPO helps to save the day
The US stocks were moving lower in the US morning session, but an IPO for Beyond Meat which was priced at $25, opened at $46 and move sharply higher from there (trading up 163% on the day at $64.90).
Now a small-ish IPO does not make a market, but it did take some of the sting out of the declines which saw the Dow down about -250 points at the lows. It is ending with half those losses. The Nasdaq is down for the 3rd day. The S&P and Dow are down for the 2nd day.
The numbers at the close are showing:
- The S&P index -6.21 points or -0.21% at 2917.51. The low reached 2900.50 (nice round number)
- The Nasdaq fell -12.867 points or -0.16% at 8036. The low reached 7976.
- The Dow fell -122.35 to 26307. The low reached 26180.36.
