Shares of Inforte (Nasdaq: INFT), an Internet services firm that competes with companies such as Razorfish and the recently public Organic, got off to a strong start on Friday. The company went public at $32 a share, the top of its revised range of $30 to $32 and well above its previous range of $23 to $25. Inforte’s stock closed up nearly 128 percent on Friday, gaining 40-15/16 to 72-15/16.
This mark, however, was near the stock’s lows of the day. Shares of Inforte opened at 87-1/4 and traded as high as 100-1/8 before pulling back. Investors who bought in at the highs and still hold their shares should not panic yet, though. With a small float of just two million shares, customers such as Sun Microsystems and Intuit, and services such as business-to-business (B2B) e-commerce consulting, Inforte stock could be a high-flier for a while.