Kayak and PAWN Soar on IPO Debuts: Bubble Conitnues

The vote appeared to be 2:1 in favour of whether the IPO market had woken out of a self-induced slumber after the Facebook Inc. (NASDAQ:FB) debacle. Out of three IPOs, two had strong debuts on Friday, while one decided to drop out.

Kayak Software (KYAK) and Palo Alto Networks (PANW) both opened in excess of 25 percent compared to their IPO price on the Nasdaq and NYSE respectively. On the other hand Fender (FNDR) withdrew its IPO due to “current market conditions.” However, taken along with Five Below’s strong IPO debut Thursday, which closed the first day...