Dear Mohan: The investment community supports your view:
"NEW YORK, April 9 (Reuters) - iTurf Inc. (Nasdaq:TURF - news), an
Internet company focused on ''Generation Y'' users, rose 161 percent on the heels of soaring newcomer iVillage, analysts said.
Shares of iTurf, a company targeting 10- to 24-year-olds, jumped $34 to $56 after reaching a high of $66 during Friday afternoon trade.
The company had priced 4.2 million shares at $22 each on Thursday, after the market close, with the help of lead underwriter BT Alex. Brown.
Peony Kao, analyst at Renaissance Capital Corp., believes the company
could mirror iVillage Inc.'s (Nasdaq:IVIL - news) success, a recently
gone-public Internet site for women, whose shares were trading at $97.75 after its $24 a share IPO mid-March.
''Both sites target a specific segment, a community. There are 60
million people between the age of 10 to 24 who have a lot of money to
spend,'' Kao said." |
