Broadcast.com soars 3.5 times fro IPO price
Article Abstract:
Broadcast.com soars 3.5 times from IPO price. The shares posted the largest first day gain of any sizable initial public offering this decade. The company's shares went from the offering price of $18 to close Nasdaq Stock Market trading at $62.75, a gain of 249%. The company had a market capitalization of about $1.6 billion after 6.53 million shares traded hands. Broadcast.com recieves revenues from advertising and licensing agreements with companies whose audio and video material are distributed by the company.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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On-line firms study network for trading
Article Abstract:
Wall Street firms are looking for ways to do business electronically away from traditional stock markets. Internet brokers are looking into the idea of funneling trades to a common "electronic communications network (ECN)" or off exchange trading sytems. Most ECNs are classified as broker-dealers by the Securities and Exchange Commission and cannot act as full fledged exchanges. The SEC is considering new rules for alternative trading as on-line brokerage firms' trading volume rises.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Broadcast.com soars 3-and-a-half times from IPO price
Article Abstract:
Broadcast.com's shares saw the largest first-day increase of any major initial public offering in the 1990's. Broadcast is a struggling supplier of audio and video Internet programming. On July 17, 1998, the company's shares increased by 249% in value over the offering price of $18 per share. The stock began trading at $68.
Comment:
Shares see the largest first-day increase of any major initial public offering during the 1990's
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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