5 IPOs Prove Tech Is Alive and Well
There may be plenty of people snuggled up in solid income stocks, but there is a growing market for new tech firms that are listing and launching, says Michael A. Robinson of Money Map Report.
Who says high-tech stocks have hit the skids?
In a move that bodes well for the 2013 stock market, high-tech IPOs have been absolutely on fire in the closing weeks of 2012. In fact, judging by their gains, high-tech IPOs have soundly beaten the rest of the market's new issues over the last three months. At least five soared by more than 40%.
Even the IPOs that many market watchers thought would fizzle have jumped out of the box. The most recent is SolarCity (SCTY), which debuted last week. Instead of landing with a thud, shares of the solar panel installer soared nearly 50% on its first day of trading from a reduced offering price of $8 a share.
That left SolarCity tied for third place among IPO performers in the quarter that ends December 31. Even as of late yesterday, SolarCity shares were still up by 55%.
But SolarCity is just the latest big winner. Here is a look at the other four winning high-tech IPOs based on their closing prices as of last week.
High-Tech IPO No. 2: 70% Gains
Located in Pleasanton, CA, Workday (WDAY) is up 70% on its offer price of $28 per share.
The company is a leading provider of cloud-based computing software that helps businesses manage their office operations online.