Initial Public Offerings Lightning Corp. has recently completed its Initial Public Offering. The stock was offered at a

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Initial Public Offerings Lightning Corp. has recently completed its Initial Public Offering. The stock was offered at a

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Initial Public Offerings
Lightning Corp. has recently completed its Initial PublicOffering. The stock was offered at a price of $14 per share.On the first day of trading, the stock closed at $19 per share.
What was the initial return on Lightning Corp. stocks?
Who benefited from this underpricing?
Who lost from the underpricing, and why?
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