Angie's List jumps 40% in trading debut
The IPOs are coming in at a fast and furious pace after a prolonged freeze.
Angie's List (ANGI) saw a quick 40% pop on its first day of trading, rising as high as $18.75 before settling back to $16.50 in the afternoon.
The consumer-reviews site didn't have the first-day buzz of many of its Internet peers, but its gains showed that the IPO environment for even smaller companies is becoming more friendly.
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"The market for entering IPOs appears to be cracking back open," a Robert W. Baird analyst told Bloomberg. "This is a good first day for a smaller-scale IPO, and that could give other companies confidence."
Angie's List opened at $18 a share after the company priced the offering at the top of its range at $13. The company sold 8.8 million shares, raising about $114 million.
That didn't come close to the heavyweight IPO from Groupon (GRPN), which raised $700 million this month in a highly anticipated offering. Groupon sold 35 million shares at $20 each, and shares have gained about 20% since then.
One of the most surprising IPOs this year was that of LinkedIn (LNKD), which completed a secondary offering Thursday. Shares were priced at $45 in the May IPO and more than doubled in the first day. The price had climbed to $110 by July but has since fallen to
LinkedIn shares rose more than 6% Thursday on the secondary offering.
The IPO market has been so chilly in recent years that many companies have delayed or abandoned offering plans. But the first sign of a real thaw -- especially for Internet companies -- was the enthusiasm surrounding LinkedIn's debut.
Now we could see more companies seizing the opportunity to jump in, and investors seem to be OK with that.
xcite - your "indicators"? Like the ticker that shows the Dow down $170? Pretty easy to "predict" events AFTER They happen.
invone - Right. We believe you're the CEO of Groupon or LinkedIn. NOT.
My indicators are showing another down day in the Market but the Euro is poised to go up soon. If Washington DC would DO SOMETHING POSITIVE, the economy might get better.
Obama still hasn't had to B***s to talk about the Fanny and Freddy bonuses.
Excuse me, I meant to say "We believe you're the CEO of ANY company. NOT."
Tomorrow, unless our Government LOOSERS open their mouth...it will be a Slight to Moderate up day in the DOW.
No I am not a CEO, a CFO
Indicators...information from friends in Europe along with Currency exchange rates.
Well, you boys must be from the Metal Black Lunch Box gang. Go to work at 7 and leave at 3. I am the Pres and CEO of one of the companies you speak. My investors make several times their investment year after year !
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