Thursday, December 20, 2007

NetSuite rallies 36% after shaky start - MarketWatch

Apparently the irrationally exuberant investment community works mostly in the afternoon...

NetSuite (N 35.50, +9.50, +36.5%) shares dipped into negative territory as trading began, then gained more than 3% after a few minutes before staggering back into the red. But the stock bounced back early afternoon, rising more than 36% to more than $35.50 a share.

This came after the company got a substantial bump in the price of its initial public offering. The deal was priced late Wednesday at $26 per share following a Dutch auction that originally was pushing the deal at a price range of $13 to $16 before NetSuite twice raised the price range in the days before the offering.

NetSuite rallies 36% after shaky start - MarketWatch

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