With shares in Facebook continuing their tumultuous run, and Nasdaq saying it would set aside some $40 million for traders who lost money because of delayed communication from the exchange, BI wanted to know how Facebook’s 30 per cent decline compared to other initial public offerings.
BI analysed first month returns of 3,700 listings (earlier, BI ran the same chart analysing only companies who raised only $500 million or more — there were about 290 of them).
Among those large listings, Facebook’s performance looked all the more bleak — only eight companies posted greater first month drops (including Renren and Vonage).
SEE ALSO: Eight unforgettable IPO disasters >
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