E-commerce initial public offerings were expected to have a big day on Wednesday, and they did not disappoint. Even with three e-commerce infrastructure/solutions/software companies opening for trading on the same day, there was more than enough money to go around for some impressive openings.
Kana Software, a developer of customer-service software, saw the biggest gain, rising more than 243 percent from its offering price of $15 to close at 51-1/2. Also opening extremely strong was E.piphany (Nasdaq EPNY), which gained more than 182 percent from its opening price of $16 to close at 45-3/16. Finally, customer management software company Broadbase Software (Nasdaq: BBSW) saw its IPO gain nearly 95 percent from its offering price of $13 to close at 27-1/4.
With eight more IPOs scheduled to open for trading today, it’s becoming clear that the IPO market is as healthy and busy as ever.
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