Your textbook mentions that one of the functions of securities firms is to facilitate initial public offerings (IPOs). Visit this link Links to an external site. to access the latest IPO data. After you open the link click on "View All Latest IPOs" and then click on the "<< Previous Month" button a few (maybe a lot of) times to go to the list of IPOs priced in January of 2017 or before. You will see a table with the company name, ticker, IPO price etc. as well as links to more information. Select one company and summarize its operations (very briefly) and provide a few details about the IPO. What was the IPO offer price? What percentage of the company's stock was sold to the public? How many lead underwriters facilitated the IPO? (need to click on the company name and then the "Experts" tab to get that info). What were the total expenses of the IPO? Also, record the company's ticker and go to yahoo to find more information. Go to finance.yahoo.com and type the ticker in the symbol box and click on "Get Quotes". What is the current price of the stock? Is it higher or lower than the IPO price? Then click on "Historical Prices" on the left to see the daily closing prices for the past few months. What was the price change the first day the stock traded? Is there evidence that the IPO was miss-priced (over- or under-priced like your book suggests is the case for most IPOs)