Tag Archives: true

IPO Stock Watch: Four Recent IPOs Hit New Highs

Four recent tech IPOs hit new highs Friday, with Cheetah Mobile (CMCM) showing the biggest pop, with TrueCar (TRUE) racing close behind. JPMorgan initiated coverage on Cheetah Mobile Friday with an overweight, or buy, rating and a price target of $26. Cheetah Mobile stock rose 22%, or 3.56, to close at 19.75, in the stock market today. Cheetah Mobile, a spinoff of China-based software company Kingsoft, provides a suite of free mobile and PC

Jumei International IPO Accelerates, TrueCar Stalls

Chinese online beauty products retailer Jumei International (JMEI) put on its best face Friday for its initial public offering. Jumei sold 11.14 million shares at 22 each, above the high end of its expected range, raising $245 million. Jumei stock opened at 27 then settled back near 24 in midday trading on the stock market today. In a second IPO Friday, TrueCar (TRUE) sold 7.77 million shares at 9, below the expected 12-14 range. TrueCar stock was