No Bubble in the Offerings

Kintera(KNTA Quote) is the best-performing tech stock, up 79% since mid-December. Kintera, a small-cap company, develops software for non-profits. The San Diego company's revenue was $2.8 million for the fourth quarter of 2003, up from $2.2 million in the third quarter of 2003 and from $600,000 in the fourth quarter of 2002. The net loss for the fourth quarter was 23 cents per share, the same as the prior quarter.

The overall worst performer among the group is Centennial Specialty Foods (CHLE Quote), a Colorado-based distributor of canned specialty foods. The company's stock is off 51% since debuting at $5 a share on Oct. 29.

The caboose of the tech-stock IPO train has been RedEnvelope(REDE Quote), an e-tailer specializing in gifts. Earlier this week, the company hit a 52-week low of $9, down 36% from its Sept. 24 offering price of $14. RedEnvelope had problems completing deliveries during the crucial Christmas season, but said recently it has resolved the issue.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider Commerce One, Internet Capital Group, Vaso Active, Kintera, Centennial Specialty Foods, and RedEnvelope to be small-cap stocks. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.