Stock Watch: Retek IPO More Than Doubles

The initial public offering of Retek (Nasdaq: RETK) also had a strong showing on Friday. Retek develops business-to-business software that helps retailers interact with other parts of their supply chain. Retek priced 5.5 million shares at $15, after a revised range of $12 to $14 and an original range of $10 to $12. Shares of Retek gained 17-9/16 to 32-9/16 on Thursday, a gain of 117 percent.

“Business-to-business software” is a magical phrase in the minds of investors right now, so Retek, which has a customer base that includes Eckerd and Ann Taylor, could be one of those stocks that gets off to a hot start and doesn’t cool off for a while. Like MetaSolv, Retek is profitable. Shares of Retek were up 2-3/4 to 35-5/16 in early trading today.

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