OpenTable signaled initial pricing at $12-$14 per share, later estimated $16-$18 per share and ended up opening on the stock exchange at $20 per share. Maybe there is some pent-up demand for tech IPO’s out there? It traded as high as $33 on it’s first day, but has settled back to around $30.50 and has some resistance at $31.
Austin-based SolarWinds hasn’t has as big of an early burst. It was the first venture-backed company to go public in almost a year. The IPO priced at $12.50, slightly above its expected range of $9.50 – $11.50 per share. Shares rose as high as $15, and it has settled back to $13.50 at this moment. You can check out a brief video on CNBC from the opening day.
Short-term results aren’t terribly meaningful, it’s staying power that counts. Of the crop of 13 Austin companies that IPO’d at the height of the boom in 1999 only two remain; Perficient and Crossroads.