Stories

SaveSave story

The year's first big tech IPO is a dud

ADT security sign outside of a home.
Photo by Joe Raedle/Getty Images

Home security giant ADT raised $1.5 billion in its IPO, pricing fewer shares than planned at a much lower price than expected.

Why it matters: The 2018 IPO market appears to have fumbled its opening kickoff, even if ADT owner Apollo Global Management booked a strong paper profit on the first stage of its quick flip.