Renren shares in free fall, more Chinese IPOs in the pipeline

Renren Inc. broke below its initial public offering price of $14 Wednesday, plunging 12 percent to $13.04 in midday trading before closing at $13.49, posting a negative total return of 4 percent. The first week’s dismal performance for Renren following its IPO has aroused concerns about other Chinese IPOs waiting in the pipeline.

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