Email marketer's IPO hypes skyward

Constant Contact (Symbol: CTCT) recorded one of the best initial public offerings of the year after underwriters priced the company’s shares at $16 last night. The money-losing email marketing specialist started trading at $26, hit a high over $30 and closed at $27.64. The 73% opening day gain looks to be the third best for the year so far after athenahealth’s (ATHN) 97% rise and VMWare’s (VMW) 76% jump, according to IPOHome.com.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.