As you are well aware by now, the stock market plunged today on fears that the U.S. economy is slipping back into a recession and European debt crisis is worsening.
It was the biggest selloff in two years, with the Dow and the S&P 500 both declining by more than 4% and the Nasdaq falling by 5 percent.
I was curious how this year’s crop of VC-backed companies fared in the correction, so I took a look at the performance of 2011’s 10 largest IPOs of U.S.-based VC-backed companies. Given that I was expecting to find a bloodbath, I wasn’t surprised to find that eight of the 10 companies saw their share prices decline. Even LinkedIn took a hit after reporting that its revenue was growing faster than anticipated and posting an unexpected Q2 profit.
On the bright side, only three of the 10 VC-backed IPOs I tracked are trading below their IPO price. Hopefully they will be able to weather the additional market turmoil that experts are predicting.
The following slideshow ranks the performance of this year’s 10 largest U.S.-based VC-backed IPOs based on the percent change in their closing prices from Tuesday to Wednesday. The data are provided by Thomson Reuters (publisher of peHUB).