As I’ve warned repeatedly this year, IPOs have been having terrible performance, even if they are widely-anticipated, red-hot offerings. One recent example is the very famous Match.com (MTCH), which, as with so many IPOs, pretty much peaked near its initial launch.

At this point, the IPO that came out the same day – – Square (SQ) – – is looking like a relative winner, since apparently its share of stock are redeemable for $12 in cash, and it is trading as such. (Umm, just kidding, in case you didn’t get it). This is seriously the daily chart:

Remember, in this market, no matter what the issue, the initials stand for It’s Probably Overpriced.