For every big tech IPO win, there was a tech IPO that landed with a thud and Envivio (ENVI) had one of the worst ones of the year. While shares of the Internet video-networking technology firm dipped only 6% on its opening day in April, the stock continued to slide after that. The company revised its revenue outlook in its second and third quarters after struggling to land big name accounts in the US and Europe, where customers tightened their belts.
Six months later, it was down by 76%. It's currently languishing at 81% below its offering price, proving the fickleness of the IPO market this year, especially when it came to tech.
The Mayans weren't the only ones who got it wrong this year. Here are a few of the worst predictions of 2012.