The golf club operator offered 18 million shares in its IPO to raise net proceeds of about $168.8 million. Short-seller Citron Research questioned its business model and noted that senior executives have been selling the stock. The IPO of about 15.2 million shares was priced above its proposed price range. The shares of cybersecurity company FireEye more than doubled on market debut. The Dow Jones industrial average fell 0.71 percent, the S&P 500 was down 0.56 percent, and the Nasdaq Composite dropped 0.24 percent.
stocks dipped as investors grappled with comments by Federal Reserve officials in the wake of the central bank’s decision not to trim its stimulus, but two companies made initial public offerings with stellar results. stocks on the move on Friday: WALL ST FALLS AFTER COMMENTS FROM FED OFFICIALS
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