Stock Watch: Investors Cool to Genuity IPO

In a sign that the Internet IPO market is still under pressure, Genuity, Inc. (Nasdaq: GENU) slipped 1 19/32 in its debut session, closing Wednesday at 9 13/32.

The company’s 174 million shares priced below the expected range of $12 to $15. The issue was reportedly the top Internet IPO, and the largest since AT&T Wireless went public in April.

Genuity, based in Burlington, Massachusetts, represents the Internet division of GTE Corp., which spun those operations off as part of its planned merger with Bell Atlantic Co.

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