MakeMyTrip (MMYT) may be off its highs, but the Indian travel-destination provider has continued to hold much of its gains. Shares priced at $14 in August. At $33.85, it's up more than 140% from the IPO price. The stock has been as high as $42.
Molycorp (MCP) is the come-from-nowhere IPO that does not even have real operations. The U.S. "rare earth" company won't even have full operations until the end of 2011. China's limit in rare-earth materials, along with a new rare earth ETF, give this one a floor. Molycorp traded under its $14 IPO price and soared to $40 briefly. It's now at $33.75.
AutoNavi (AMAP) is a Chinese company that provides global positioning and navigation services for cars. That has kept its cell-phone and smartphone competition more limited compared with Garmin (GRMN) in the U.S. AutoNavi went public July 1 in the peak-selling week of summer, and shares are up over 70% at $21.55 versus its $12.50 IPO price. The low was $12.62.
The China, or Asia, theme is hard to ignore among the top IPO winners. These 100%-plus gainers are impressive.-- Written by Jon C. Ogg of 24/7 Wall St.
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