Surely you’ve heard all the breathless reporting about the FIG IPO, since it tripled in price on its first outing. The blinkered and naive among us surely consider this marvelous news and affirmation of a super-duper, unstoppable bull market.
I took the time and trouble to gather up for you some of the leading “pops” from 1999 and 2000.
- theglobe.com – up 606%
- Red Hat – up 271%
- VA Linux – up 697%
- Foundry Networks – up 525%
- WebMethods – up 505%
- TIBCO Software – up 236%
- Ariba – up 291%
Haven’t heard of these guys, except maybe in bankruptcy? Yeah, that’s my point. Explosive IPOs like FIG take place at generational tops. When ya know, ya know.
