While most technology stocks struggled on Thursday, the initial public offering of Wink Communications (Nasdaq: WINK) had a strong opening day. Wink, whose technology enables companies to offer e-commerce transactions via television, was initially priced at $16 and closed at 35-11/16, a gain of more than 123 percent.
Wink reported just $517,000 in revenue and a loss of more than $14 million last year, but the company has some powerful allies. Microsoft, Paul Allen’s Vulcan Ventures and DirecTV have all invested in Wink. In addition, Wink has partnerships with leading broadcasters, most notably NBC, FOX CNN, ESPN and ZDTV. This looks like an emerging company that’s worth keeping an eye on.