NEW YORK (AP) -- This was supposed to be the year of the IPO comeback.
Six months into 2011, the market for initial public offerings was stronger than before the recession. Shares of companies that had gone public earlier in the year, on average, had posted gains.
But the market for new stock offerings fizzled in 2011 as the prospect of a global slowdown and a prolonged European debt crisis battered financial markets. High-profile Internet companies like Groupon, LinkedIn and Zynga attracted attention. But overall, companies didn't raise as much as they hoped. Main Street investors, who generally don't have access to IPO shares until after they start trading, were likely the biggest losers.