Here are a couple of interesting IPOs coming down the pike:
PortalPlayer, who makes chips for the iPod, among other devices, is supposedly on everybody’s radar.
And InPhonic (via Briefing.com):
INPC InPhonic IPO prices well above range; the Expedia of mobile phones? (19.00 )
InPhonic prices its IPO at $19, well above the expected range of $15-$17. The co is an online seller of wireless services and devices. The co sells wireless services and devices to consumers through websites that it creates for third parties under their own brands. It also sells services through its own branded websites, including Wirefly.com. The co also provides wireless services for consumers through wholesale purchases from Sprint. The co offers mobile virtual network operator services under its Liberty Wireless brand. The co is not yet profitable, but its top line growth is impressive. Revs for the years 2000-03 were $499,000, $13.1 mln, $63 mln and $136 mln, respectively. For the 9 mos ending Sep 30 2004, revs were $144.2 mln…. Inc. Magazine’s annual list of the 500 fastest growing privately-held US cos named InPhonic as the No. 1 fastest growing company on the list. The article says that InPhonic is sometimes called the Expedia of mobile phones as it sells phones and service plans for all of the major carriers through its website, Wirefly.com, and private-label sites it creates for portals like AOL and Yahoo. Former VP candidate Jack Kemp is a director and John Sculley, former CEO of Apple, is vice chairman of the board of directors… At $19, the co will have a $600 mln market cap (price/sales 3x) despite posting a loss. However, the strong pricing shows investors are excited about the top line growth. High growth internet cos have made for hot IPOs lately (JOBS, LGBT, LONG, SHOP). Perhaps the most closely-related IPO, Jamdat Mobile (JMDT 22.80 -0.33), a publisher of wireless entertainment applications, is up 43% from its offering price. Also, the co’s small float of 7 mln shares and that it’s the only IPO today is attracting traders. This deal is being led by Deutsche and JP Morgan.
They should be fun to watch and trade. But you know I won’t touch them until after they make a base…
Check out EELN. Nice breakout today on 9x normal volume yahoooooo.
I know… I’m in it!
what do you see for upside target. Also if 2.44 is breached should I say we are going for a ride????????! Seems stuck here at 2.40, need a little help……… P.S. nice piece in Barrons.
It’s hard to say. It’s struggling with its 200-day moving average right now. If it can get through it looks like the next resistance is around 2.70
That’s about what I figured (I have staggered sells from 2.75 up to 2.89. Good luck with your trade mike.
Mike, I thought you only traded with stocks over $15?
Did I say that? LOL… Those are what I focus my swing trading on. For day trades almost anything is fair game, although I really don’t like messing with stocks under $5 for day trades.