Unfortunately, WMG (Warner Music Group) and VG (Vonage) probably had one of the worst timed IPO's in a long long long time.
March 2006 WMG stock starts trading, where Joe Public can buy it around $20s and goes to $30's in a few very short weeks. Then it starts to tank, and tank and tank all the way to down to its eventual bottom of $1.50s March 2009. Today WMG trades in the low $5 range.
VG (Vonage)did a mass mailing in the beginning of 2006 to their existing customer base telling them they will go public and they could buy shares in the company's product they use. Retail customers buy like no tomorrow. The day it opens, Wall Street pro's short the snot out of it and it tanks horribly on its first two days drops like a led balloon losing 33% in just two days! Vonage starts calling their retail clients, who now have just lost 33% in two days! Retail clients start saying "no way! I just lost 32% in two days and you want me to give you the thousands of dollars I told you I would give you?" It got ugly! VG never looked back and just kept tanking and tanking and taking till March 2009 where it bottom around $0.25s. Today VG trades in the mid $1.50s range.
As bad as all this might sound, at least with WMG and VG are still around. I have seen company's issue an IPO and within a few months go bk.
Sorry if I got off topic a bit. Just thought some mind find this story interesting.