LOS ANGELES (AP) — A splashy Wall Street debut by Bazaarvoice Inc. and Proto Labs Inc. is the latest sign that investor appetite for initial public offerings has rebounded after a dismal IPO market in 2011.
Social commerce site Bazaarvoice and custom parts manufacturer Proto Labs each drew strong demand for their stocks in their first day of trading on Friday.
Proto Labs’ shares surged 81 percent from its opening price of $16 to end regular trading at $29.
Shares of Bazaarvoice opened at $12 and climbed 38 percent to $16.51.
IPO watchers say the companies’ stock performance reflects an improving climate for IPOs this year.
They point to the Dow Jones Industrial average flirting with 13,000 the past two weeks and say IPOs are being priced lower to lure investors.