Rocket Fuel IPO blasts off on first day

Rocket Fuel IPO sees gains of 94 percent in its share price on first day of trading. Rocket Fuel, a digital advertising company, raised $116 million with its IPO.

|
Andrew Kelly/Reuters/File
A security officer stands guard outside the Nasdaq MarketSite in New York's Times Square, in August. On Friday, a California digital advertising firm raised $116 million from its initial public offering of stock to the public on the Nasdaq. The Rocket Fuel IPO saw shares soar from $29 to $56.

Shares of digital advertising company Rocket Fuel took off during its first day as a publicly traded company.

The technology company's stock gained $27.10, or 94 percent, to $56.10 after it raised $116 million in an initial public offering of stock.

Its shares priced at $29 each, at the high end of the expected price range of $27 to $29 per share.

Rocket Fuel Inc. is giving the deal's underwriters a 30-day option to buy up to an additional 600,000 shares to cover any excess demand.

The Redwood City, Calif., company's stock trades on the Nasdaq under the "FUEL" ticker symbol.

You've read  of  free articles. Subscribe to continue.
Real news can be honest, hopeful, credible, constructive.
What is the Monitor difference? Tackling the tough headlines – with humanity. Listening to sources – with respect. Seeing the story that others are missing by reporting what so often gets overlooked: the values that connect us. That’s Monitor reporting – news that changes how you see the world.

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

QR Code to Rocket Fuel IPO blasts off on first day
Read this article in
https://www.csmonitor.com/Business/Latest-News-Wires/2013/0921/Rocket-Fuel-IPO-blasts-off-on-first-day
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe