Stock Watch: AvantGo IPO Soars

AvantGo, Inc. (Nasdaq: AVGO) more than doubled in its first day of trading, closing up 8 at 20.

The New York-based company, which provides software and services that allow users of mobile devices to access information over the Internet, sold 5.5 million shares at $12 a piece through underwriters led by Credit Suisse First Boston. AvantGo’s IPO indicates that investors are becoming more receptive to the wireless device market.

AvantGo provides interactive and personalized Internet content and Web-based applications from more than 600 sources.

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