But why did icon stock decline so much after ipo

Icon Energy Corp.'s stock experienced a significant drop shortly after its initial public offering (IPO) for several reasons:

1. Underpricing: The company priced its IPO at the lower end of its range, which can lead to underpricing. Underpricing occurs when the market perceives the initial price to be lower than its true value, leading to increased demand and a surge in trading volume.
2. Market Dynamics: The IPO market can be volatile, and new stocks often experience a decline in the short term as investors adjust their positions and the market reacts to the new supply of shares.
3. Company-Specific Factors: Icon Energy's stock price was influenced by factors specific to the company. For example, the company reported its first loss in years after a write-down on a mine in 2023, which may have dampened investor sentiment.

The decline in Icon Energy Corp.'s stock price after the IPO can be attributed to a combination of underpricing, market dynamics, and company-specific factors. It is not uncommon for stocks to experience volatility in the immediate aftermath of an IPO, and investors should be prepared for such fluctuations.