Semiconductors are not what the market wants to see right now.
The market is so cautious right now and so shaky that if you don't have all those perfect scenarios, then you will trade at your IPO price.
The human capital sector is very hot. But . . . the market may value this deal as a consulting firm instead of a human capital firm. That's just not the best sector right now. People have the perspective that it's not the most profitable industry.
Every year the IPO market gets off to a slow start, and given last year's performance, it should get off to an even slower start this year.
It will be interesting to see if an online retailer can come into this market and get a good response. Everyone's heard of them but the question is whether they'll get the attention of the Street.
The market for tech deals is sort of on-again, off-again, so you've got to look at the fundamentals that they have decent revenue for a company this size.
It's too early for a rebound though, and the market is still very selective.