“Shares in VA Linux Systems soared eightfold today, setting
a new record for the largest first-day gain of any initial public
offering.”
” ‘VA is the mother of all price pops,’ Peterson said, in
reference to the first trade. The company may unseat TheGlobe.com,
which currently holds the record for the largest first-day gain
with a 606 percent increase.
Soon after the initial trade, the shares climbed to 320. When
the dust settled, VA Linux shares had slid back to close at
239.25–a stunning 697.50 percent gain that sets a new record in a
year that has been dominated by high-flying IPOs.”