India Coffee House Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : India Coffee House

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Mohan Marette who wrote (8872)	10/24/1999 12:44:00 PM
From: Mohan Marette	of 12475

Desh plants a giant Sycamore By R. Scott Raynovich Redherring.com October 22, 1999 Optical switch manufacturer Sycamore Networks (Nasdaq: SCMR) became a Wall Street legend today, opening at $278.88 per share, a $232.88 point gain -- 600 percent -- over its offering price of $38. The stock closed at $184.75; this $146.75 daily gain from the offering price is the greatest single-day point gain in IPO history, according to Redherring.com's records. Even so, it was hard to detect any extra excitement in Gururaj "Desh" Deshpande, who gets more passionate about product strategy than about his company's stock price. Mr. Deshpande, Sycamore's chairman and cofounder, was cool and collected following the mega-successful IPO. There wasn't even a tremor in his voice. "It's an indication of the opportunity that lies ahead," said Mr. Deshpande in a phone interview on Friday afternoon, when his stock price was hovering around $201. "People have been talking about the networked economy for a long time. What's fundamental to that revolution is bandwidth." ......... redherring.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next