Omniture IPO Offers All Angles

Since going public last week, Omniture has managed to keep both bull and bear riveted.

For the naysayers, the market remains hostile to even promising tech companies, like this Orem, Utah-based Web analytics leader, in the wake of the Vonage fiasco. Even with the company backed by a top underwriter like Morgan Stanley, the going for venture-backed tech companies looks as if it will continue to be rough for a while.

For more sunny thinkers, the fact that this stock -- with a history of operating and net losses, and an uncertain future in a highly competitive market -- even made it public is a sign that investors are growing less judicious about stocks. That the shares have closed for three straight days above its opening price may be a small miracle. The stock, which priced at $6.50, closed Friday at $7.29. ...