Performance of recent IPOs soared in April
An index measuring the performance of recent initial public offerings soared 14.6 percent in April, “signficantly outperforming” the major indices, according to Renaissance Capital.
“The strong performance was driven by renewed interest in technology and growth stocks as the market began to show signs of life. Investors have begun to place bets on these stocks, which are now trading at bargain prices,” according to the release Renaissance put out on Friday.
Virtualization software provider VMware of Palo Alto was the second best-performing stockduring the period, with a 56 percent gain in its stock price. It was surpassed by Sirtri Pharmaceuticals, which rose 72 percent after announcing it was going to be acquired byGlaxoSmithKline for $720 million.
The top performing sector in April was communications, driven by renewed speculation of a
potential merger between Leap Wireless and MetroPCS.
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On Ben Stein’s Expelled….: “If the fittest ARE to be the ones who survive, why are we so very zealous in ‘saving the planet?’ Maybe there exists not only the Creator, but the Savior in whose ‘image’ we ARE intricately designed.”