The e-commerce software industry looked red-hot on June 23 when shares of e-commerce software developer Ariba (Nasdaq: ARBA) went public at $23 and closed at $90. On Thursday, things looked even more sizzling.
Ariba competitor Commerce One (Nasdaq: CMRC) went public on Thursday after pricing its IPO at $21 a share, up from the original range of $17 to $19. Shares of Commerce One gained 40 to 61 on Thursday, a rise of 190.5 percent on a day that nine companies went public.
Shares of Ariba were also strong on Thursday, gaining 7-3/4 to 105. There’s obviously room for multiple players in this game.