Wednesday, markets were off to the races after the Federal Reserve and five other central banks agreed to lower the cost of emergency dollar (NYSE:UUP) funding by half a percentage point. The Dow (NYSEARCA:DIA), Nasdaq (NASDAQ:QQQ), and S&P 500 (NYSEARCA:SPY) all closed more than 4% on Wednesday.
Here’s a look at how popular tech stocks performed as equities had their biggest daily gain since August:
Groupon, Inc. (NASDAQ:GRPN) Shares of the internet coupon king surged more than 9% on Wednesday. However, shares still remain below their IPO price of $20 per share. In the past month, shares have declined 33%.
Pandora Media, Inc. (NYSE:P) The online music provider is another tech darling trading below its IPO price. Shares gained 3.3% on Wednesday, but remain almost 37% below its IPO price. Shares have fallen 35% in only a month.
Angie’s List, Inc. (NASDAQ:ANGI) Provides a membership service that compiles consumer ratings of local service companies and contractors in multiple cities across the US. Despite the sharp rally across the board, Angie’s List declined more than 2% on Wednesday. Shares are down nearly 29% for the month of November.
Netflix, Inc. (NASDAQ:NFLX) The infamous online entertainment company was one of the biggest losers on Wednesday. After being downgraded from neutral to underperform by Wedbush analyst Michael Pachter, shares finished the day 4.5% lower. Mr. Pachter also set a price target of $45 for the company, about $20 below its current price. Shares of Netflix have decreased 21% in the past month.
Apple Inc. (NASDAQ:AAPL) Shares of this consumer tech giant have struggled since reaching an all-time high in October, but managed to climb 2.4% higher on Wednesday. Shares have declined 5.6% over the past month. In the meantime, investors continue to wait for iPhone 4S earning numbers, and a rumored 2012 release of the new iPad 3 to boost shares.
LinkedIn Corporation (NYSE:LNKD) The world’s largest professional network surged almost 12% on Wednesday. The company recently sold about 8 million shares in an additional share offering. The stock has seen big moves since its IPO priced at $45. Shares currently trade near $65, and fell 26% in November.