Last quarter, a number of internet startups reached record highs following Wells Fargo’s Outperform rating of the startups: Tucows Inc. at $18.80 for 52 weeks, Equinix Inc at $233.82 also for 52 weeks, and LinkedIn Corp for $243.25 for 52 weeks.
If you remember, LinkedIn was originally valued at $45 a share at stock market launch in 2011. It leapt to as high as 171 percent, closing at $94.25 in just the first day of trading at the New York Stock Exchange (NYSE). Big winners can also be found on other internet initial public offerings, like Twitter which earned $139.5 million in its initial public offering.
Fast forward four years, just this month it seems investors are still convinced on the social networking giant’s business oriented model, as they continue pumping cash that had shares jumping to 14%, or $33 a share, to a new record high of $271, before finishing at $263.40, up 11%.
In other news, GoPro, an American corporation that develops, manufactures and markets high def personal cameras, often used in extreme action video photography, suffered a setback in its shares down 13% trading at $49.45, their lowest level in four months. This followed Apple’s report of a new patent for a sports video camera which will potentially open up a rivalry with the tech giant for GoPro’s line of lightweight, sports camera.
Still, GoPro’s profits in the last fiscal quarter made nearly three times to $122.3 million, from $43.7 million during the same period last year. The company’s yearly income also more than doubled, growing to $128.1 million from $60.6 million a year earlier. For more updates on the share prices of some famous Internet IPOs, check out the infographic below.
This Infograph is shared here after legal permission from Staff