该公司的股票在第一个交易日跌破了发行价。
Shares in the company slipped below their issue price on their first day of trading.
通常来说，一笔IPO在经历最初的热捧之后，股价随后就会跌破发行价。
Often, after an initial frenzy on an IPO, the stocks later fall below their initial offering price.
不过，市场并未热情款待今年上市的所有股票，这可以看作是对新股崇拜者的一个警告：在36只已经上市的新股中，有14只已跌破了发行价。
Still, the market isn't hospitable to all IPOs this year, which serves as a warning to weaker wannabes: 14 of 36 completed offerings are trading at less than the offering price.
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