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Most IPOs found 1994 rough-going. (initial public offerings)(Stock Performance Guide: Highs & Lows of IPOs)
Crain's Cleveland Business, May, 1995 by Suttell, Scott
It was a tough year to be a Democratic candidate for Congress, a Cleveland Cavalier and an IPO in Northeast Ohio. Of the seven local companies that had initial public offerings in 1994, just two offered a positive return to investors from the time of their IPOs to last Monday, May 15. Even Contract-less Democrats and the injury-plagued Cavs fared better.
The leader by a wide margin was Shaker Heights-based OfficeMax Inc., the office supply superstore chain with about 400 stores in 40 states and Puerto Rico. OfficeMax made its November 1994 debut at $19 a share, rose as high as $27.38 in January and settled back to $24.75 last week. For those of you keeping score, that's an impressive 30.3% return in half a year. Amy Ryan, a specialty retailing analyst with...
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