E-Commerce Stock Watch: Silknet IPO Has Wild Ride

Shares of Silknet Software (Nasdaq: SILK), which develops software that allows company to offer personalized marketing, sales, e-commerce and customer supports through a Web site interface, had a roller coaster ride on their first day of trading on Wednesday before closing sharply higher.

The initial public offering of three million shares was priced at $15 and opened at 20-1/8. The stock then fell to 15-5/8 before roaring back to close up 20-1/8 to 35-1/8, a gain of 134 percent. More than 11 million shares changed hands during the session.