Intraware (Nasdaq: ITRA), which sells software to companies over the Internet, also went public on Friday. Shares of Intraware closed up 2-7/8 to 18-7/8, a decent 18 percent gain. The stock was as high as 23-3/38 on its first day of trading.
Of course, in the world of Internet IPOs, some investors may see this as a disappointment. But the modest rise is appropriate. Traders shouldn’t get that excited about a company that sells business software online, because there’s already a lot of competition out there from established players like Beyond.com and Egghead.com. It’s actually good to see a little logic surrounding an Internet stock.