A look at today's IPO news, including Amplify Snack Brands Inc (BETR) and Zynerba Pharmaceuticals Inc (ZYNE)
Amplify Snack Brands Inc (NYSE:BETR) made its public debut this morning, and the results have been less than stellar. Shares of the company -- which makes SkinnyPop popcorn -- have plunged 9% to $16.38, relative to the IPO price of $18.
The drop is especially discouraging, considering the performance of BETR's sector peers. IPOs on consumer food companies have historically been strong,
averaging an initial-day gain of 22% over the last five years. However, all hope is not lost. Silk parent WhiteWave Foods Co (NYSE:WWAV) went public in late 2012, and slipped 1.5% on its first day of trading. Today, less than three years later, the shares tagged a record high of $52.53.
Elsewhere on the IPO front, things have shaken out quite differently for drugmaker
Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE). The stock has soared over 23% to trade at $17.22.
Lastly, high-end retailer
Neiman Marcus filed paperwork to go public. The company, which was founded more than a century ago, has always been privately held -- most recently purchased in 2005 by Ares Management LLC and the Canada Pension Plan Investment board.