Organic macaroni wins, Facebook loses in IPO class of 2012

December 26, 2012

Business

Fortune and CNNMoney.com have finished their IPO winners and losers list for 2012.

Annie's was one of the best IPO stories of 2012.

Annie’s was one of the best IPO stories of 2012.

The list includes some of the best public offerings this year from companies like Splunk (a data processor for Comcast and Bank of America) and Annie’s, a San Francisco-based organic pasta manufacturer. Business reviews website Yelp is also riding high after this year’s Internet stocks bonanza.

That bonanza couldn’t save Facebook from a financial face plant. The social media pioneer wracked up the most negative IPO headlines this year after an underwhelming start on Wall Street that some analysts say was the worst of the decade. Three months after its debut, “Facebook’s market value has dropped more than $50 billion” wrote New York Times DealBook blogger Andrew Ross Sorkin in September, “To put that in perspective, that’s more market value than Lehman Brothers gave up in the entire year before it filed for bankruptcy.”

Today, Facebook is still trading at nearly a third below its initial offering price. Last week, Massachusetts lobbed a $5 million fine at Wall Street banker Morgan Stanley for violating securities laws and specifically, “improperly influencing the stock offering process” in connection with the Facebook IPO.

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About Stephen McDill

Stephen McDill joined the Mississippi Business Journal in 2008 after working in radio and television. He is a graduate of Belhaven University and has won awards for his writing and photojournalism from the Associated Press and Mississippi Press Association.

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