Handspring, Inc. (Nasdaq: HAND) soared 26 15/16 in its first day of trading Wednesday, closing at 61 15/16. The Mountain View, California-based company makes the Visor handheld computer.
Handspring raised about $200 million in its initial public offering, selling 10 million shares at $20 each through a group of underwriters led by Credit Suisse First Boston.
Handspring’s debut was strong considering current IPO market conditions, particularly for technology-related stocks. When competitor Palm, Inc. went public earlier this year, its stock shot up to 165 on the first day from 38.