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NEW YORK (
LinkedIn(LNKD - Get Report) set the bar pretty high for initial public offerings with its scorching debut last month, and that kind of trading can help the wider IPO market by fueling demand for the next batch of new companies to go public.
The vast majority of retail investors, of course, don't get to buy in at the offering price. Those allocations are doled out to institutional players and a few lucky retail brokerage clients. Even then, those brokerage clients only get tiny slivers of the sale. That leaves everyone else waiting until the stock's debut to get a piece of the action.
It's been a relatively strong year in terms of volume so far. Following LinkedIn and the massive $10 billion offering of
Glencore International on the London Stock Exchange, the total value of global IPOs reached $80.3 billion year-to-date as of May 20, according to
Thomson Reuters, up 1% from 2010's pace. And that doesn't include
Yandex(YNDX) and a host of other debuts that went off with varying success as the month drew to a close.
Stock performance, however, hasn't justified the market's enthusiasm for new offerings. The
FTSE Renaissance IPO Index has only delivered 1.1% positive performance for the year, and it seems like for every winning IPO, there's a loser as well. Buzz only carries so far, especially when investor interest for some expected-to-be hotly anticipated names hasn't materialized.
What follows is a look at the three best-performing IPOs so far in 2011 as well as the three worst performers.