VA Linux IPO jumps 270 points to 300 by lunch


— 1:20 PM on December 9, 1999

VA Linux's stock had an initial public offering of 30 points when trading opened today. The stock soared, reaching 300 points by mid-day. Over 3 million shares had been traded before I took my lunch break. Yahoo has a little news blurb about the gain, but most people are quiet. No official word from VA Linux's news sources. Most people are probably taking a wait-and-see attitude. After all, like the Yahoo article explains:

VA Linux shares were up 244 to 274 a share in their debut on the NASDAQ in mid afternoon trading, after a long delay in opening, with a surge of over 800 percent.

If VA Linux's shares close with a similar gain, it could take the lead from the globe.com (NasdaqNM:TGLO - news), as the biggest first-day gainer ever among initial public offerings.

It looks like all of those VA Linux employees and their stock options are going out for a very nice dinner tonight.
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