I was right again about two other stock IPOs I discussed earlier this month (see "Still No New Investments"), and how I thought they would not be a good idea for anyone seeking a small speculative investment strategy.
Team Health Holdings (TMH) which listed at $14.00/share is currently trading at $12.81/share, and Cobalt International Energy (CIE) which opened at $15.00/share is now at $13.50/share. That is an average decline of 9.25%.
I'm not ready to say these stocks would never be good investments at some future date, just not right now. I'm withholding any judgement on these stocks till they have an earnings per share (EPS) figure, and currently, they have not yet posted one.
When (or should I say "if") the day comes and this changes, don't worry, I'll keep you informed.
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