Stock Watch: IPO Soars, Too

Search engine (Nasdaq: GOTO), which charges other Web sites for placement on its search results, also had a strong first day of trading on Friday. The IPO was priced at $15, and closed up 7-3/8 to 22-3/8, a gain of 49 percent.

Volume was heavy, with more than 14.6 million shares changing hands, even though only six million shares were made public. Like Viant, priced its offering much higher than its original range.

The price range was originally $11 to $13, before being raised to $13 to $14 and then raised once more to $15.

More than anything else, Friday’s trading in and the other Internet companies that went public shows that investors are being selective as the market gets crowded, but the higher-profile companies are still attracting buyers.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

How often do you receive an email that you suspect is fraudulent?
Loading ... Loading ...

LinuxInsider Channels