The initial public offering of Web consulting company C-Bridge Internet Solutions (Nasdaq: CBIS), which helps traditional companies do business online, also had a strong first-day performance on Friday. The company priced four million shares at $16, above the revised range of $12 to $14 and well above the original range of $8 to $10. The stock gained 24-1/16 to close at 40-1/16, a rise of more than 150 percent.
C-Bridge also looks like a stock that could continue to rise. Competitors like Scient and Viant have done extremely well on Wall Street, and C-Bridge’s partners include Oracle and Hewlett-Packard. C-Bridge also has an impressive client list that includes Chevron and Toyota.