** Shares of Lineage LINE.O sink to new lows on Weds after report cold-storage operator reducing headcount just six months after its blockbuster IPO
** LINE falls as much as 3.8% to $53.32 on the session, so far. Stock now off ~41% from intra-day peak of $89.85 hit on Jul 31
** Novi, Michigan-based real estate investment trust is cutting staff, Wall Street Journal reported late Tues, citing a co statement
** Number of jobs or types of roles affected by the layoffs not disclosed, according to the report
** Private equity-backed firm debuted on Jul 25 after ~56.9-mln-share IPO priced at $78, for the biggest U.S. listing of 2024
** Co ultimately raised ~$5.1 bln of gross proceeds after the underwriters exercised the full over-allotment option
** For Q3 last year, co reported rev of $1.3 bln, up 0.5% y/y, and much wider net loss of $543 mln compared loss of $50 mln in yr-ago period
** Shares of rival Americold Realty COLD.N down 2.7% on Weds. Its stock has shed ~30% over the past six months
** Meanwhile, Wall Steet's major indexes rallying on Weds after data soothes inflation jitters and big U.S. banks report strong earnings .N
** The S&P 500 real estate sector .SPLRCR, viewed as bond-proxy, up 0.6% after rising more than >2% earlier on Weds as yields slump
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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