IPODEX Shows Market Strength Support
Page 1 of 1
IPODEX shows that this basket of stocks that made the jump to public life this year was up 261% from IPO pricing to March 18. Two of the stocks, Vignette (NASDAQ:VIGN) and WebTrends (NASDAQ:WEBT), hit new all-time highs.
Overall, IPODEX stocks, however, traded off -30% from their highs, but 415% off the lows. The lows show where individual invesors could have bought the stock, so it partially mitigates the reaction of many that IPOs at IPO price are difficult.
My analysis indicates, however, that the lowest low was still 33% better than the IPO price (with Prodigy).
Notably all these stocks were up triple digit from offering price. While individual investors don't often get a chance to buy at that price, it shows how inefficient the pricing of IPOs is.
|Company||Stock||IPO share||18-Mar||Change from||Share||18-Mar|
|name||Symbol||price||close||IPO||high||% of high|
|MarketWatch||MKTW||$ 17.00||$69.00||306%||$ 130.00||-47%|
|Healtheon||HLTH||$ 8.00||$38.56||382%||$ 48.63||-21%|
|Verticalnet||VERT||$ 16.00||$93.00||481%||$ 120.00||-23%|
|Allaire||ALLR||$ 20.00||$51.63||158%||$ 69.00||-25%|
|Pacific Internet||PCNTF||$ 17.00||$46.00||171%||$ 88.00||-48%|
|Prodigy||PRGY||$ 15.00||$38.50||157%||$ 50.63||-24%|
|Vignette||VIGN||$ 19.00||$69.00||263%||$ 79.00||-13%|
|WebTrends||WEBT||$ 13.00||$45.13||247%||$ 59.00||-24%|
|TOTAL||$ 125.00||$ 450.81||261%||$ 644.25||-30%|
|AVERAGE||$ 15.63||$ 56.35||261%||$ 80.53||-30%|
|MEDIAN||$ 16.50||$ 48.81||196%||$ 74.00||-34%|
Leading the list of all gainers was VerticalNet with a 481% run to $93.
On deck to go public is iVillage (NASDAQ:IVIL), which doubled its price per share as demand outstrips supply.
Moves behind the moves:
Accolades for Internet Stock Report:
"Fresh and provocative" -CBS Marketwatch, who named Steve Harmon one of the top Internet stock analysts and only independent one honored
"I am a huge fan of Steve Harmon's analysis" -Kleiner Perkins' John Doerr