5 IPOs that Flopped

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1. GoHealth, Inc. (NASDAQ:GOCO)

Number of Hedge Fund Holders: 14 

Share Price on September 21: $5.35

IPO Price: $21 per share 

GoHealth, Inc. (NASDAQ:GOCO) is ranked first on our list of 10 IPOs that flopped. The firm owns and operates a digital health insurance marketplace and is headquartered in Chicago. The firm raised $914 million in an IPO priced at $21 per share, one of the priciest health IPOs in history. However, the shares have fallen rapidly in value since, and are presently trading at close to 75% below the IPO price. 

On August 12, investment advisory Raymond James downgraded GoHealth, Inc. (NASDAQ:GOCO) stock to Market Perform from Outperform, underlining that the firm had missed market estimates on earnings in the results for the quarter ended June 2021. 

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Centerbridge Partners is a leading shareholder in GoHealth, Inc. (NASDAQ:GOCO) with 40 million shares worth more than $456 million. 

You can also take a peek at Billionaire Stan Druckenmiller’s Top 10 Stock Picks and Billionaire Julian Robertson On Interest Rates and His Top Stock Picks For 2021.

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