The fall in price after the Ico is already becoming the norm. Only some very popular projects enter the market and make profit, all the other trades are 5-10 times lower than their real price.
It's common cause most of the bounty hunter who always dump the price of that specific coins. Also, add the factor that the real service or product is not totally 100 percent in function or active. ICO is just like getting some capital to those investors around the world to create the dream coin or dream crypto project.