Stock Watch: Cybersource IPO Sees Decent Gain

The extremely busy week of Internet initial public offerings continued on Thursday, and one of the winners was Cybersource (Nasdaq: CYBS), which develops real-time e-commerce transaction services. The IPO priced at $11, above the original $8 to $10 price range, and shares of Cybersource closed up 2-9/16 — a gain of more than 23 percent — on Thursday.

Cybersource is a spinoff of leading online software retailer Beyond.com and has more than 400 customers, including well-known e-commerce businesses that compete with Beyond.com like Egghead.com and Shopping.com. Some analysts had expected Cybersource’s IPO to perform better than it did, but Thursday was an overall down day on Wall Street, and the IPO market might be getting somewhat over-saturated.

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