Bridgepoint IPO takes a 30% pricing haircut

Original Bridgepoint IPO price range was $14-$16. Bridgepoint IPO actually priced at $10.50. That's a 30% haircut.

Reason: the post secondary online education sector was strong last year up until the first of February, when the largest company, industry sector leader Apollo (APOL) aka Univ of Phoenix almost reached $90 and recently almost touched $60.

IPOs can't fly against industry trend headwinds. Can't swim upstream when the current is washing that sector downstream. Also, almost 100% of the proceeds went back to stockholders, now that's the definition of an IPO bailout 'secondary'.