Facebook leads other recent tech IPO stocks down

NEW YORK (AP) — Shares of technology companies that have gone public in the last year sank Tuesday, as investors continued to lump them together with Facebook Inc., which had another down day.

Shares of Zynga Inc., which makes games played on Facebook, fell 52 cents, or 7.9 percent, to close at $6.09. The day’s low of $5.98 was the lowest Zynga’s shares have traded since the company went public on Dec. 16 at $10 a share.

Stock of Pandora Media Inc., which streams music online, fell $1.22, or 10.4 percent, to $10.57, giving back almost the whole gain it made after reporting last week that its first-quarter results were better than expected. Pandora, which went public almost a year ago, on June 15, Pandora derives most of its revenue from online advertising, just as Facebook does.

Shares of Yelp Inc., which lets people review local businesses, fell $1.19, or 6.5 percent, to $17. The day’s low of $16.84 is near the stock’s all-time low of $16.21, which it hit last week. Yelp went public in March at $15 a share.

Stock in Angie’s List Inc., a website for researching, recommending and hiring home, health and service professionals, fell 29 cents, or 2.3 percent, to end the day at $12.11. They launched in November at $13.

Shares of online deals company Groupon Inc. fell 26 cents, or 2.2percent, to $11.79. Groupon went public in November at $20 per share.

Jive Software Inc.’s shares fell 46 cents, or 2.7 percent, to close at $16.84. The maker of tools for running social networks for businesses went public in December at $12 a share.

Shares of Facebook Inc. fell $3.09, or 9.7 percent, to close at $28.82. The social network began trading publicly May 18 at $38 per share.

Bucking the trend was Linkedin Corp., whose shares rose in line with the broader market. They gained $1.29, or 1.3 percent, to close at $99.81. Linkedin has been trading publicly since May 2011, when its shares launched at $45 apiece.

The Dow Jones industrial average closed up 1.01 percent, and the Nasdaq composite index rose 1.18 percent.

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