Shares of discount retailer
ended basically flat on their first day of trading, indicating that investors are making decisions about initial public offerings on a case-by-case basis.
Overstock, which sells discount, brand-name merchandise over the Internet, closed up 3 cents, or 0.2%, at $13.03. The company priced 3 million shares on Wednesday at $13 a share.
WR Hambrecht and Cantor Fitzgerald were the co-managers on the company's deal.