Surfair

Wall Street and Markets

110799

As the market continues to drop, tech stocks take a big hit

Companies like GrubHub, FireEye, Zendesk and TubeMogul have all lost major value in their stocks

Innovation series by Steven Loeb
February 5, 2016
Short URL: http://vator.tv/n/42f6

If you held onto your stock portfolio this year, you might have regretted not cashing out of some stocks and investing in, say, nicer Christmas gifts. After all, they would have probably retained their value, which is more than we can say for stocks this year. Indeed, 2016 is turning out to be an ugly year, particularly for the heretofore-darling-and-coveted, high-growth tech stocks.

A couple of weeks ago we took a look at some of the biggest tech IPOs in the past five years or so, and compared them to the overall market. The result: most of the stocks were faring worse than the market overall. And that trend appears to be continuing.

Both the Dow Jones and The Nasdaq got hit hard on Friday, dropping 211.75, 1.29 percent, and 146.42, or 3.25 percent, respectively. On the year, since the start of trading on January 4, the Dow Jones has declined percent to 16,204.83, while the Nasdaq has lost 12.87 percent, going down to 4,363.14.

Sounds brutal. But here's another look at the recent IPOs in the last five years. As you can see, while few are above their IPO price, they're all down more than the overall market for the year.  

  • Zynga

IPO price: $10 (December 16, 2011)

Price at the start of the year: $2.64

Current price: $2.30

Percentage change for the year: down 14.55 percent

Percentage change from IPO: down 77 percent

  • Etsy

IPO price: $16 (April 16, 2015)

Price at the start of the year: $8.18

Current price: $7.06

Percentage change for the year: down 14.65 percent

Percentage change from IPO: down 55.9 percent

  • Brightcove

IPO price: $11 (February 17, 2012)

Price at the start of the year: $6.15

Current price: $5.13

Percentage change for the year:  down 17.42 percent

Percentage change from IPO: down 513.4 percent

  • Tubemogul

IPO price: $7 (July 18, 2014)

Price at the start of the year: $13.31

Current price: $10.85

Percentage change for the year: down 20.22 percent

Percentage change from IPO: up 55 percent

  • GrubHub

IPO price: $26 (April 4, 2014)

Price at the start of the year: $23.5

Current price: $21.14

Percentage change for the year: down 12.65 percent

Percentage change from IPO: down 18.7 percent

  • Workday

IPO price: $28 (October 12, 2012)

Price at the start of the year: $77.79

Current price: $54.24

Percentage change for the year: down 31.93 percent

Percentage change from IPO: up 93.7 percent

  • Marketo

IPO price: $13 (May 17, 2013)

Price at the start of the year: $27.91

Current price: $16.46

Percentage change for the year: down 42.67 percent

Percentage change from IPO:  up 26.6 percent

  • RetailMeNot

IPO price: $21 (July 19, 2013)

Price at the start of the year: $9.80

Current price: $8.48

Percentage change for the year: down 14.52 percent

Percentage change from IPO: down 59.6 percent

  • FireEye

IPO price: $20 (September 20, 2013)

Price at the start of the year: $20.14

Current price: $13.21

Percentage change for the year: down 36.31 percent

Percentage change from IPO: down 33.9 percent

  • Zendesk

IPO price: $9 (May 15, 2014)

Price at the start of the year: $25.97

Current price: $16.98

Percentage change for the year: down 35.78 percent

Percentage change from IPO: up 88.7 percent

(Image source: lehighvalleylive.com)


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