A friend of mine tipped me off to the fact that MAKO finally made their IPO last month.  I had completely missed it (which is probably a good thing).  So I hit up Google’s Financial pages to see the trading charts..

While this may look good at a glance, a quick look shows nothing of note.  They opened just under $10, spiked to $12, and settled down around 10.50 for today.  What I find more interesting is the harsh commentary on it… Like the Wall Street Journal:

MAKO closed at $9.18 a share on the Nasdaq, down 8% from its IPO price of $10. It sold 5.1 million shares at the low end of a reduced $10 to $11 price range; it originally was expected to price between $14 to $16 through underwriters J.P. Morgan Chase & Co. and Morgan Stanley.
…
Meanwhile, Fort Lauderdale, Fla.-based MAKO specializes in making robotic instruments and implants for knee surgery. Its products, which were first cleared by the Food and Drug Administration, allow surgeons to avoid complete joint replacement for early-to-mid-stage osteoarthritic knee disease, and instead resurfaces damaged joints and places implants through a small incision.

MAKO has never been profitable and expects to continue losing money as it develops its business.

So, looks like noone will be selling their shares and buying a Yacht anytime soon.  Guess we’ll just have to wait and see how it plays out.
[tag:mako][tag:stockmarket]

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