50%-Plus IPO Gainers of 2008 (ATAI, IPI, TITN, V)

IPO’s have been much lower in numbers of late because of current market conditions.  But companies that came public have still managed to see their share of winners with the likes of ATA Inc. (NASDAQ: ATAI), Intrepid Potash (NYSE: IPI), Titan Machinery Inc. (NASDAQ: TITN), and Visa Inc. (NYSE: V) all fitting into the IPO-winners category with gains of 50% or more.

ATA Inc. (NASDAQ: ATAI) has seen a 51% gain since its January 28 IPO after its near 1% gain today.  This one is thin volume and has had a post-IPO range of $8.02 to $17.45.  ATA’s IPO priced at $9.50.  At least no one confused this one with the former ATA Airlines.

Intrepid Potash (NYSE: IPI) has been a real winner and by the name you’d put this one in the "Land of Duh!" category.  This one is up over 80% since the April 21, 2008 IPO at $58.00.  Its IPO priced at $32.00 and its post-IPO trading range is $43.36 to $61.37.

Titan Machinery Inc. (NASDAQ: TITN) is technically a 2007 IPO as it came public on December 5, 2007.  But it is the single best post-IPO performer with a gain of more than 200%.  That is even after a 4% drop today to $26.17 late in the day.  Its IPO priced at $8.50, but its post-IPO trading range over the last seven months is $11.50 to $27.79.  Take a guess why… ag-equipment.

Visa Inc. (NYSE: V) has been a beast since its March 19, 2008 IPO, even though it is already more than $10.00 off of its highs.  Shares are up some 80% from its $44.00 IPO pricing, although its post-IPO trading range is $55.00 to $89.84.  Even if you just count the post-IPO lows that you could have bought it at, it’s still up close to 45%.

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Jon C. Ogg
June 12, 2008