2016 Has Been A Tough Year To Go Public

Kaltbaum said he keeps a watch-list of up to 70 companies new to the stock market and said that they are "all getting creamed." He added that the few successful IPO launches, including Acacia Communications, Inc. ACIA and Twilio Inc TWLO are now "crashing."

From Winner To Loser

Kaltbaum raised a very valid point. Acacia's stock opened for trading back in May above its IPO price of $23 and soared above $30 per share in its first day of trading. The stock's momentum carried over for months and hit an all-time high of $128.73 in early September. The stock has since lost momentum and now stands at around the $70 per share mark.

Similarly, Acacia priced its IPO at $15 per share, and after its first day of trading in late June, the stock closed at $28.79. Within a few weeks, shares hit an all-time high of $70.96 before giving up most of the gains and is now trading at around $36 per share.

There Are Others

According to Renaissance Capital, 10 of the past 19 IPOs are now trading below issue price.

Some of the more notable decliners include China's second-largest delivery company, ZTO Express Inc. ZTO, which lost 15 percent on its opening day and and is now trading at nearly $3 below its initial pricing of $19.50.

Myovant Sciences Ltd. MYOV was seen trading at $12.08 on Tuesday, down notably from its IPO pricing of $15 per share last Thursday.

In fact, most of the IPOs from last week are underwhelming and trading in the red.