NetSuite (N) NewsBite - NetSuite Still Rising on IPO

Posted on Friday, December 21, 2007 12:29 PM

NetSuite Inc. (N) opened at 36.32. So far today, the stock has hit a low of 36.32 and a high of 45.97. N is now trading at 42.34, up 6.85 (18.86%). The stock hit its 52 week high of 45.97 today and set its 52 week low of 23.86 in December. The stock has been climbing since its initial offering yesterday. Shares of business software maker NetSuite have been surging today after its initial public offering priced yesterday far higher than expectations. NetSuite's IPO of 6.2 million shares climbed $161 million at a price double the low end of an initial forecast range of $13 to $16, and $4 a share higher than the top of the final forecast of $19 to $22. We will just watch this one for now. There are no options on N yet. [RHF - Seven Summits Strategic Investments NewsBite]

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