Pair Of Mass. Companies Go Public On Same Day
BOSTON (CBS) - For the first time in recent memory, a pair of Massachusetts companies went public on the same day.
Medical biotech Tesaro of Waltham gained almost 1.5% in its first day of trading. Burlington software company EXA Corp. lost 2% its first day on the NASDAQ.
WBZ NewsRadio 1030's Anthony Silva reports
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The founder of IPOscoop.com, John Fitzgibbon, tells me the Tesaro offering was rushed to market, something he calls a positive sign.
Fitzgibbon says the IPO market has been shaky and sloppy for months. He says the market had been drying up heading into the Facebook IPO and it was a victim of the slow market.
Fitzgibbon says nothing was scheduled for that week, and there was a void behind it. He rejects the idea that Facebook put the "stake in the vampire's heart."
