Stock Watch: Mainspring Gains on First Trading Day

In a further sign of life for the Internet IPO market, Mainspring Inc. (Nasdaq: MSPR) gained 2 5/16 in its first trading day, closing Thursday at 14 5/16. The Cambridge, Massachusetts-based Internet consulting firm sold four million common shares through underwriters led by Morgan Stanley Dean Witter.

Mainspring provides e-business consulting services to Fortune 1000 companies, focusing on the financial services, retail and consumer goods, technology, media and manufacturing industries. The company posted a loss of $12.69 million (US$) on revenue of $7.03 million in 1999.

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