Traders showed no love for VC-backed IPOs in today’s bloodbath on Wall Street. Of the 38 venture-backed companies that have gone public this year, 36 saw their share prices drop today and two were flat, according to data from Thomson Reuters (publisher of peHUB).
All market indices were hammered, with the Dow Jones Industrial Average plummeting 635 points in its 6th biggest single-day drop in history. Today’s downturn followed a modest market uptick on Friday, after a major market correction last Thursday.
Among newly public VC-backed companies, today’s five biggest losers on a percentage basis were Sequans Communications (NYSE: SQNS), down 20.1% to $5.70; Solazyme (Nasdaq: SZYM), down 18.5% to $14.35; LinkedIn (NYSE: LNKD), down 17.4% to $75.47; 21Vianet Group (Nasdaq: VNET), down 16.2% to $10.35; and Kior (Nasdaq: KIOR), down 15.8% to $10.28.
On a dollar basis, the biggest VC-backed losers were LinkedIn, which fell by $15.89; Yandex (Nasdaq: YNDX), down $3.79 to $27.04; Sagent Pharmaceuticals (Nasdaq: SGNT), off $3.56 to $23.39; Solazyme, down $3.26; and Zipcar, off $2.43 to $21.42.
For a look at how all 38 VC-backed stocks performed today, watch the following slideshow. It’s organized alphabetically.
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