Mark, I agree, but playing the IPO market seems to work better for me.
Its been this way since I started with B2B , and BIO.
>Billerica, Massachusetts, Aug. 4 (Bloomberg) -- Bruker Daltonics Inc., whose instruments for analyzing molecules are used by drug and biotech companies, surged as much as 92 percent after the company raised $104 million in its initial public offering.
The shares rose 10 1/4 to 23 1/4 in late trading of 8.18 million, and earlier reached 25. The company boosted the number of shares offered to 8 million from 7.5 million and the price to $13 each from the anticipated $10 to $12.
Bruker, based in Billerica, Massachusetts, sold a 15 percent stake in a sale arranged by UBS Warburg LLC. IPOs for genetic- research companies and their equipment suppliers have been among the year's most active, as investors bet the research will lead to profitable drugs.
``This is a picks-and-shovels story,'' said Gail Bronson, a start-up company executive in California's Silicon Valley. ``Bruker is providing the picks and shovels for biotechnology and drug companies.''
The company had net income of $1.25 million last year on sales of $60.6 million. Chief Executive Frank Laukien and his family own the other 85 percent of the company.
Aug/04/2000 15:05 ET |
