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US IPOs Best & Worst 1st Day Returns

With 81 U.S. IPOs priced year-to-date, exceeding the 74 deals completed for the same period of 2010, the U.S. IPO market is starting to gather steam and nearing 2007’s levels when 123 IPOs debuted from January though the end of July.

Linkedin founder Reid Garrett Hoffman (C) and CEO Jeff Weiner (2nd R) at the ringing of the opening bell of the New York Stock Exchange May 19, 2011 during the initial public offering of the company.
Stan Honda | AFP | Getty Images
Linkedin founder Reid Garrett Hoffman (C) and CEO Jeff Weiner (2nd R) at the ringing of the opening bell of the New York Stock Exchange May 19, 2011 during the initial public offering of the company.

High profile internet public offerings from LinkedIn and Russia’s leading online search engine Yandex drew a great deal of attention to the IPO market toward the middle of May of this year, after on their first day both soared 109 percent and 55 percent respectively from their initial price.

Today, the real estate online-market-place company Zillow and trendy headphone and accessories maker Skullcandy are debuting on the NASDAQ, pricing above their expected price range at $20/share each.

Will these two new IPO’s demonstrate some hot returns on their first day of trading and beat the average first day pop of 8 percent this year?

The table below includes the top 10 biggest U.S. IPO’s pops and drops in the first day of trading since the beginning of this year.

Qihoo 360 Technology , which offers a safe web browser and other Internet security products in China, had lots of appeal on its first day of trading, with the company's shares soaring 134 percent in its trading debut.

In fact, Renassaince Capital lists China’s Qihoo 360 as the third best first-day gain for a U.S. listed IPO in the post tech-bubble era and in the last 10 years. However, shares in Qihoo have declined 27.4 percent since its debut closing price of $34/share.

On the other side of the spectrum, online adult social networking and multimedia entertainment company FriendFinder Networks had an initial issue price of $10/share during the second quarter of this year, posting a 21.5 percent drop on its first day of trading, the worst first-day performance for a U.S. listed IPO so far this year.

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