A123 Systems – see full rigamole here – has dropped a bit from its close above $20 yesterday, but it's hovering around $19.20. At one point it was near $21. The entire market is down. 

It will be weeks until we see whether the IPO signals a trend toward more IPOs or whether the rise was largely the result of the bong hit of unrealizable expectations. At an event in Silicon Valley last night, several VCs said that they hoped the company would do well.