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VA Linux Smashes IPO Record, Soaring Almost 700%
Updated from 1:53 p.m. EST
VA Linux Systems (LNUX Quote) skyrocketed through the stock market Thursday, picking up the biggest first-day gain ever for an initial public offering.
The company's shares climbed 209 25/32 -- or a whopping 698% -- to close at 239 25/32. That broke the record set by the IPO of theglobe.com, (TGLO Quote) which posted a first-day gain of 606% in November 1998. ...
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