Facebook who??
Two technology IPOs are rocking and rolling today after they began trading for the first time as public companies.
Palo Alto ($PANW) a security software company and travel company Kayak Software Corp ($KYAK) are both up big in their first few hours of trading. Add that to yesterday's strong debut for retailer Five Below ($FIVE) and it was a decent week for IPOs. And next week looks like it will be active as well with 8 more names ready to hit the public markets.
A name that I know and love because of their great food and wine is Del Friscos Restaurant Group; the stock will begin trading next week.
The First Trust IPOX 100 ETF ($FPX) is down 0.6% today but has been in a solid uptrend over the last 6 weeks. The new IPOs this week are not in the ETF yet, but will most likely be added when the portfolio is rebalanced.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
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