So far this year only six Internet IPOs out of more than 200 have
finished their first day of trading at least 300% above their respective
offer prices.
Three of those came in October, helping to make the month the best since
April in terms of IPO debuts, with an average first-day price jump of
112%.
Perhaps not coincidentally, the 21 IPOs launched in October was the
lowest amount of ‘Net debuts in any month since April. A little supply
and demand at work here? I think so.
Akamai Technologies (AKAM), Sycamore Networks (SCMR) and Calico Commerce
(CLIC) were the standout stars of the October group, posting first-day
gains of 458%, 386% and 300%, respectively. Akamai and Sycamore are in
the red-hot infrastructure space, while Calico targets the equally
popular e-commerce sector.
And while these companies deservedly got much of the attention from
Internet stock investors and analysts, several others scored big in
their opening day of trading.
Up more than 200% were InterTrust Technologies (ITRU) and Breakaway
Solutions (BWAY), while Digital Insight (DGIN), Interwoven (IWOV),
Cysive (CYSV) and NaviSite (NAVI) each racked up 100%-plus openers.
Here’s the year so far:
Internet IPOs By Month
January – 4
February – 11
March – 13
April – 17
May – 26
June – 32
July – 35
August – 26
September – 26
October – 21
Total – 211
Average First-Day Return By Month In 1999
January – 241%
February – 122%
March – 134%
April – 116%
May – 59%
June – 48%
July – 74%
August – 45%
September – 72%
October – 112%
10 Best Debuts of 1999
1. CBS MarketWatch.com (Jan. 15), 474%
2. Akamai Technologies (Oct. 29), 458%
3. Sycamore Networks (Oct. 22), 386%
4. Ask Jeeves (July 1), 364%
5. priceline.com (March 30), 331%
6. Calico Commerce (Oct. 7), 300%
7. Alteon WebSystems (Sept. 24), 294%
8. Healtheon (Feb. 11), 292%
9. Ariba (June 23), 291%
10. eToys (May 20), 283%
10 Worst Debuts of 1999
1. The Cobalt Group (Aug. 5), -24%
2. US SEARCH.com Corp. (June 25), -19%
3. BigStar Entertainment (Aug. 3), -18%
4. Webstakes.com (Sept. 24), -18%
5. ZapMe! (Oct. 20), -14%
6. Quotesmith.com (Aug. 3), -14%
7. 1-800-FLOWERS.COM (Aug. 3), -13%
8. Digital Lava (Feb. 17), -13%
9. ZipLink (May 26), -12%
10. VitaminShoppe.com (Oct. 8), -11%
Here are the Internet IPOs from October and their first-day
performances (following the list are links to stories containing debut
percentages for all other ‘Net IPOs this year):
Oct. 1 – Digital Insight (DGIN), 114%
Oct. 6 – DSL.net (DSLN), 14%
Oct. 6 – Breakaway Solutions (BWAY), 202%
Oct. 7 – PlanetRx.com (PLRX), 63%
Oct. 7 – Calico Commerce (CLIC), 300%
Oct. 8 – VitaminShoppe.com (VSHP), -11%
Oct. 8 – Jupiter Communications (JPTR), 69%
Oct. 8 – Interwoven (IWOV), 141%
Oct. 8 – E-Stamp (ESTM), 32%
Oct. 14 – Netcentives (NCNT), 5%
Oct. 14 – NetRadio (NETR), -9%
Oct. 15 – Women.com Networks (WOMN), 85%
Oct. 15 – Cysive (CYSV), 122%
Oct. 20 – ZapMe! (IZAP), -14%
Oct. 22 – Sycamore Networks (SCMR), 386%
Oct. 22 – NaviSite (NAVI), 147%
Oct. 26 – Viador (VIAD), 24%
Oct. 27 – InterTrust Technologies (ITRU), 202%
Oct. 28 – Data Return (DRTN), 26%
Oct. 29 – Cavion Technologies (CAVN), -8%
Oct. 29 – Akamai Technologies (AKAM), 458%
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