Shares of online sporting goods retailer FogDog Sports Nasdaq: FOGD) gained 2-1/8 to 13-1/8 on their first day of trading on Thursday. That was a respectable gain of more than 19 percent, but the close was well off the stock’s high of 22.
Investors are becoming more picky about investing in e-commerce retailers, simply because every online retail market seems to be hyper-competitive right now. Fogdog, however, should benefit from its exclusive deal with Nike, which owns about 10 percent of Fogdog. Fogdog is the only Internet-only retailer that is allowed to sell Nike’s products through next March.
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