Shares of online consulting and design company Viant (Nasdaq: VIAN), whose services include e-commerce consulting, gained more than 17 percent Wednesday, climbing 5-3/16 to an all-time closing high of 35. What makes this gain even more impressive is that Viant surged 6-5/16 to 29-13/16 one day earlier.
There could be something significant brewing — or this could just be momentum investing — but nobody’s saying anything. After all, Viant just went public on June 18, which means it’s still in the middle of its quiet period. One factor pushing up Viant’s stock may be that Goldman Sachs was its lead underwriter, and Goldman Sachs has been doing quiet well with IPOs recently.
Goldman Sachs was also the lead underwriter for the sizzling IPO of Juniper Networks (Nasdaq: JNPR), as well as Wednesday’s Network Plus IPO. Shares of Network Plus gained 30.5 percent on Wednesday, climbing 4-7/8 to 20-7/8.