Who says high-tech stocks have hit the skids?
In a move that bodes well for 2013 stock market, high-tech IPOs have been absolutely on fire in the closing weeks of 2012.
In fact, judging by their gains, high-tech IPOs have soundly beaten the rest of the market’s new issues over the last three months. At least five soared by more than 40%.
Even the IPOs that many market watchers thought would fizzle have jumped out of the box.
The most recent is SolarCity Corp. (Nasdaq: SCTY) which debuted last week.
Instead of landing with a thud, shares of the solar panel installer soared nearly 50% on its first day of trading from a reduced offering price of $8 a share.
That left SolarCity tied for third place among IPO performers in the quarter that ends Dec. 31. Even as of late yesterday, SolarCity shares were still up by 55%.
But SolarCity is just the latest big winner. Here is a look at the other four winning high-tech IPOs based on their closing prices as of last week.
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About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.