What is the meaning of an initial return for an ipo

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Initial Return :

What is the meaning of an initial return for an IPO? Were initial returns of Internet IPOs in the late 1990s higher or lower than normal? Why?

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What is the meaning of an initial return for an ipo : What is the meaning of an initial return for an IPO? Were initial returns of Internet IPOs in the late 1990s higher or lower than normal? Why?

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