Facebook (FB) is One Of the Worst Performing Initial Public Offerings in the Last DECADE

This chart from www.businessinsider.com shows some of the larger IPO’s and how they have performed over their first 5 days. 

Pavel Durov, founder of the hugely popular Russian social network VKontakte said the Facebook IPO caused such a chill with investors that they have indefinitely postponed ther IPO.  Keep in mind that VKontakte (www.vk.com) is Russia’s second most popular website (and Russian is a BIG country) and has stayed in the top 50 sites world wide for several years.  Having a firm like VKontakte not put out an Initial Public Offering because of market “damage” done by Facebook is a big deal to the investment community and an even bigger deal to the high tech industry… they need to raise money to expand and right now anyone expanding, anywhere, is good for all of us.

 As you can see things haven’t got better in recent days; today it closed near $28, about 25%off its IPO price a week or so ago.