As expected, the initial public offering of OnDisplay (Nasdaq: ONDS), which develops applications that allow e-commerce businesses to create and manage online marketplaces and portals, was a big hit on Wall Street on Friday. The company priced 3.5 million shares at $28, above the revised range of $22 to $24 and more than double the original range of $11 to $13. Shares of OnDisplay closed up 175 percent on Friday, gaining 49 to 77. The stock opened at 79 and climbed as high as 86 before pulling back a bit.
This looks like another one of those e-commerce infrastructure stocks that could keep climbing. Investors are currently infatuated with companies like OnDisplay, and the company’s partners include an all-star list of e-commerce infrastructure companies like Ariba, Art Technology, Broadvision, Commerce One and Vignette, as well as technology heavyweights like Microsoft and IBM.
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