Kayak’s opening day: A look at online travel IPOs
Saturday, July 21, 2012
Shares of Kayak Software Corp. surged in their market debut, closing up $7.18, or 27.6 percent, to $33.48. Here’s a look at other major travel websites’ first-day performances, and how they’ve done since:
Expedia Inc. (EXPE)
First trading day: Nov. 10, 1999
Priced at: $14, higher than expected range.
Closing price, opening day: $52.75
Closing price, Friday: $47.11
Orbitz Worldwide Inc. (OWW)
First trading day: July 20, 2007 (this is the second time Orbitz went public, after being taken private, then spun off)
Priced at: $15, lower than expected range.
Closing price, opening day: $14.50
Closing price, Friday: $4.31
Priceline.com Inc. (PCLN)
First trading day: March 30, 1999
Priced at: $16, higher than expected range.
Closing price, opening day: $69, one of the best first-day performances ever.
Closing price, Friday: $673.20
NOTE: Adjusted for a 1-for-6 reverse stock split in 2003, the first-day closing price would have been $414
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