8-1-99 Thestreet.com's ipo analyst Ben Holmes' take: "Fairchild is the largest independent semiconductor company focused solely on multimarket products. This is a big deal at a fairly high price range. Sizable revenue and a well recognized name will carry the deal."
He was right. It debuted nicely, considering the 30 odd ipo's slated for this week, while buyers are on vacation enmasse. I know there are alot of market players missing from action right now, or else I wouldn't be the one starting this thread, after this "mother of all chip companies" already finished its first day of trading.
For the record the DJIA closed at 10,674, down 2.54, -.02% and the Nasdaq composite index and S&P 500 both down more than 1%. Despite the summer doldrums, and the imminent spectre of the net "bubble" melting on the wall street sidewalk, FCS raised more than $370 mil, second only to the $388 mil raised by AVX in 1995, which was the largest single ipo of a chip-related company (according to today's thestreet.com).
Given this one day performance, is it overbought already? I expect it to be a good trading stock for daytraders today (Thursday), with 1/4 point moves up and down throughout the day... |
