In light of today’s LinkedIn (LNKD) double, I want to refer you to this spectacular act of research by Prof. Jay R. Ritter of the University of Florida, who reviewed the initial public offerings (IPOs) of common stock ( >$5.00 and proceeds >$5 million) of all non-ADR operating companies during 1975-2004 that at least doubled in price on the first day of trading.
The ten biggest first-day percentage increases are:
1. Va Linux (12/09/99) 697.50%
2. Globe.com (11/13/98) 606%
3. Foundry Networks (9/28/99) 525%
4. Webmethods (2/11/00) 507.50%
5. Free Markets (12/10/99) 483.33%
6. Cobalt Networks (11/05/99) 482%
7. MarketWatch.com (1/15/99) 474%,
8. Akamai Technologies (10/29/99) 458%
9. Cacheflow (11/19/99) 426.56%
10. Sycamore Networks (10/22/99) 386%.
Professor Ritter’s full research piece has 100s of IPO first day price pops, and makes for fascinating reading.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.