IPO Outlook: Googly Eyed in 2004
FormFactor (FORM) is an example of the new breed of IPO that Wall Street seems to appreciate. The semiconductor-equipment manufacturer had double-digit revenue growth when it went public last June, and it also had been making money in each of the last four years. Shares are up approximately 30% since the offering.
Investors have high hopes for an offering from Web search engine Google. "It would be reminiscent of the Netscape IPO," said David Menlow, president of IPOFinancial.com.
Before being acquired, shares of Netscape were up 250% from their issue price. The stock's meteoric rise is viewed as the first puff of air into what became the Internet bubble. That Google would be able to mimic that kind of performance in this day and age, some believe, is unlikely. It also may be undesirable.
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