Burst of IPOs follows gains in stock market
Source: AP-Excite
By SARAH SKIDMORE SELL
The stock market has been heating up, driving demand for IPOs.
There have been 140 initial public offerings of stock this year, up 46 percent from the same time in 2012, according to IPO tracking firm Renaissance Capital. Of the eight companies that went public this week, two _cybersecurity software maker FireEye and technology advertising company RocketFuel - nearly doubled in value Friday.
The pace does not appear be slowing down. Next week, market watchers expect as many as 13 more companies to make their debuts. If all of them price, it will be the most IPOs in the U.S. in one week since 2007, when 14 hit the market at once, according to data provider Dealogic.
With the stock market hitting new highs, investors want to take chances they might not otherwise take in a flat or down market, said Scott Sweet, senior managing partner at IPO Boutique, which researches and invests in IPOs.
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In this Friday, April 19, 2013, file photo, penguins from SeaWorld are escorted by their handlers on the floor of the New York Stock Exchange during the company's IPO, in New York. In 2013 there have been 140 initial public offerings, up 46 percent from September last year, according to Renaissance Capital. (AP Photo/Richard Drew, File)
