Recent Internet IPO Stocks Tanking (ANGI, LNKD, GRPN)
Three recent internet IPOs are struggling, even as the market jumped by more than 2.5% yesterday. Angie’s List Inc. (NASDAQ: ANGI), Groupon Inc. (NASDAQ: GRPN), and LinkedIn Corp. (NASDAQ: LNKD) are all slumping badly. Angie’s List went public at $13,…
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Three recent internet IPOs are struggling, even as the market jumped by more than 2.5% yesterday. Angie’s List Inc. (NASDAQ: ANGI), Groupon Inc. (NASDAQ: GRPN), and LinkedIn Corp. (NASDAQ: LNKD) are all slumping badly.
Angie’s List went public at $13, rose to more than $18, and closed its first day at $16.56. Shares closed yesterday at the original offering price.
Groupon’s offering price was $20/share, and the stock closed at near $26 on its opening day. Shares closed yesterday at $15.24, down -24%.
LinkedIn’s IPO price was $45/share, and the stock more than doubled on its first day, and hit a peak of nearly $110/share in mid-July. The stock closed yesterday at $60, still above its IPO price, but off about -45% from its high.
Perhaps investors are piling up cash as they anticipate the IPO of Facebook, now rumored to be in a pricey neighborhood that would value the social media startup at $100 billion.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
