Yesterday we touched on a few things to watch for related to the IPO market.  One of them was the performance of LinkedIn after its offering, and it's fair to say that the public had no problems with the initial valuation.

The stock more than doubled from its offering price, which is the first time we've seen that from a domestic IPO since Chipotle.  This kind of thing can really affect the sentiment of the market, especially given some of the recent signs of low bullish opinion (form AAII and Investor's Intelligence).

Based on this research paper from Professor Jay Ritter at the U of Florida (hat tip to Barry Ritholtz), we can go back to 1975 and look at other times a domestic IPO doubled from its offering price on the first day of trading.

What we're looking for are IPO "doubles" that can really pack a punch.

So we're only going to include IPOs that were about a year or more from the prior double.  This is to make sure that there was some shock value, as opposed to something that investors had grown used to.

The charts below show the S&P 500, along with these IPOs (the red dots).  The time frame includes three months prior to the IPO and nine months afterward.