We have two IPOs which have come out of the gate with some strength today. One is a prototype design firm for manufacturing and design and one is a social media metrics company.
PROTO LABS, INC. (NYSE: PRLB) priced at $16.00 per share for 4.3 million shares and that was above the projected price range of $13.00 to $14.00 per share. We now have shares up above $27.00 on over 3.1 million shares after a $25.00 opening bell price.
Bazaarvoice Inc. (NASDAQ: BV) priced some 9.48 million shares at $12.00 per share, which was also above the projected $8.00 to $10.00 price range. We now have shares up at $16.05 on more than 3.3 million shares traded.
It is a safe assumption that the overallotment (greenshoe) options are being exercised on both of these.
JON C. OGG
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