The first weeks of the new year have proved difficult for brokerage and investment banking stocks - notably for Friedman Billings Ramsey Group, which went public just before a sectorwide downturn.

The firm, based in Arlington, Va., specializes in initial public offerings, took itself public Dec. 23. In the intervening month, its shares have tumbled to $16 from their $20 offer price.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.