Software as a service (SaaS) stocks are limping toward the close-of-2008 finish line. Our SaaS 20 Stock Index fell 2.81 percent for the week ending December 26 and the index is down 46.99 percent so far for 2008.

In contrast, the Dow Jones industrial average has dropped 36.2 percent this year, marketing the biggest drop since 1931 when the Great Depression sent stocks reeling 40.6 percent, according to the Associated Press.

Of our SaaS 20 Stock Index members, a whopping 17 SaaS-oriented companies saw their shares decline for the week ended Dec. 26. Check our SaaS 20 Stock Index center for a complete look at the index. And stay tuned for a look back at what went right — and wrong — for SaaS-focused companies in 2008. I’ll offer some of my perspectives on SaaS companies shortly after the New Year.

MSPmentor is updated multiple times daily. Don’t miss a single post. Subscribe to our Enewsletter, RSS and Twitter feeds.