AvantGo's IPO a Big Success
On Tuesday, AvantGo (AVGO) sold 5.5 million shares at $12 each, $1 above the originally predicted $9 to $11 price range. They raised $66 million, which they intend to use for more marketing efforts and to continue the company's growth. Since its debut, the stock has been as high as $27.75 and opened the day on Thursday at $20.
This capped a month marked by strong rises in Palm-related stocks. Since August 24, shares of Handspring have jumped 100% and shares of Palm have shot up 38%. Much of Handspring's increase can be credited to CIBC Oppenheimer analyst Thomas Sepenzis, who rated it a "strong buy" with a price target of $70. He rates Palm a "buy" with a target of $65.
AvantGo had revenue of $3.8 million last quarter with losses of $11.5 million. During the same quarter last year, they had losses of $2.7 million on $0.9 million in revenue.
Article Comments
(5 comments)
The following comments are owned by whoever posted them. PalmInfocenter is not responsible for them in any way.
Please Login or register here to add your comments.
Comments Closed
This article is no longer accepting new comments.
AvantGo is overrated
submit ideas to AvantGo
RE: submit ideas to AvantGo
---
Plenipotentiary
Palm InfoCenter
hardly overrated
Latest Comments
- I got one -Tuckermaclain
- RE: Don't we have this already? -Tuckermaclain
- RE: Palm brand will return in 2018, with devices built by TCL -richf
- RE: Palm brand will return in 2018, with devices built by TCL -dmitrygr
- Palm phone on HDblog -palmato
- Palm PVG100 -hgoldner
- RE: Like Deja Vu -PacManFoo
- Like Deja Vu -T_W
I need some cash!!!