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Erik Hoel
Traders Magazine Online News

Will The Bitcoin Bubble Pop Or Will It Envelop Us All?

Guest contributor Erik Hoel asks the question whether the worst is over for bitcoin holders, or still yet to come, what is yet to come? And why.

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In your opinion, what is the biggest hurdle facing the blockchain?

Cost of implementation

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Too many systems available

23%

Not applicable to my business

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Nobody else is using it

23%

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November 1, 2001

IPO Renewal and Hope

By Frank Musero

The IPO market is showing signs of a possible rebirth.

It comes after a disastrous third quarter when only 14 deals made it to market. The fourth quarter opened on a hopeful note.

It saw its first IPO since August 13: Given Imaging Inc., an Israeli-based maker of ingestible cameras' used to monitor gastrointestinal health problems (Nasdaq: GIVN).

Positive Result

The deal raised $60 million via Lehman Brothers and Credit Suisse First Boston. The underwriters sold five million shares at $12 each in early October. That's not bad in the current climate, considering the company had originally planned to raise $65 million, and sell the shares at $13.

Given Imagining had a good start on day one, initially trading at $12.60, reaching a high of $13.44.

It never fell below its offer price of $12. And it closed on its first day at $12.47, up 3.9 percent, with about 3.9 million shares changing hands.

However, the company, which won FDA approval for its product, still has not reported any sales for the product in the U.S.

It reported an operating loss of $7.4 million for the first six months of 2000.

Still, Given stated that it plans to use proceeds from the IPO to establish offices and expand sales. It will also use the money raised to finance research and development as well as go ahead with systems development.

That Given Imaging didn't tank on the first day of trading will probably encourage other companies to try the IPO market this quarter.