NewsDialy
A stock falling below its IPO price, meaning the fixed rate at which shares are first sold to the public, is the market's way of saying early buyers are now at a loss.
That happened Wednesday to Applied Aerospace & Defense after the company's first earnings report since going public in June showed a result investors had not expected.
The company, which trades as AADX, makes complex parts for satellites, aircraft, and high-end precision strike systems, and counts SpaceX among its customers.
The first quarterly report after the IPO An earnings report is the quarterly financial filing a company publishes so investors can see revenue, costs, and whether the business is turning a profit.
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