MarketWatch.com Debuts in Trading After Hot IPO
- Share via
After several days of profit-taking in the Internet stock sector, today’s trading debut of MarketWatch.com Inc. promises to be closely watched. The San Francisco company, which operates a popular financial news Web site, raised $46.8 million in an initial stock sale Thursday that tapped investor interest in financial news and in the Net.
The company sold 2.75 million shares, a 23% stake, at $17 each. That was $1 above the top of the $14-to-$16 expected range, which was raised from $10-to-$12 on Wednesday by underwriters BT Alex. Brown and Donaldson, Lufkin & Jenrette Securities.
The sale gave MarketWatch.com a market capitalization of $200 million. The shares will begin trading today on Nasdaq under the ticker symbol MKTW.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
