Guess Stock Draws Yawns On Wall Street

Guess? Inc., the high-profile maker of high-fashion sportswear, made an inauspicious entrance Thursday on Wall Street.

The Los Angeles company’s initial public stock offering opened flat on the New York Stock Exchange, highlighting the overall malaise in the market for new stock issues, aggravated by Guess’ recent labor difficulties.

Guess sold nearly 17 percent of its stock to underwriters late Wednesday. The offering had been twice delayed previously and the Los Angeles jeans and sportswear maker had to reduce the sale to 7 million shares from an originally planned 9.2 million, and trim the price to $18 a share from original estimates of $21 to $23.

On Thursday, it began trading under the symbol GES, but remained stuck at $18 a share despite heavy volume.