Initial public offerings (IPOs) are usually _____ relative to market price of the stock traded in the secondary market immediately after IPOs.

Initial public offerings (IPOs) are usually _____ relative to market price of the stock traded in the secondary market immediately after IPOs. 




A) over priced
B) correctly priced
C) under priced
D) mispriced but without any particular bias




Answer: C


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FIN 332

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