Most Chinese IPO's have done poorly in the aftermarket, not so with Qihoo (QIHU). The tech company makes internet and mobile security products and is also positioning itself in the cloud.
The company priced an offering of 12.1 million shares at $14.50 each on March 29, and the stock closed on Wednesday at $26.25, up 81%. Like LinkedIn, Qihoo had a phenomenal first day of trading, jumping 134% in its debut.
By comparison, Baidu (BIDU) rose 354% on its first day and Youku (YOKU) was up 161% on its first trading day. Five analysts are now covering Qihoo with four rating it a buy. A positive catalyst on the horizon could be that Qihoo is about to hit the conference circuit.
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