Shares of Rocket Fuel and FireEye hewed close to their names on the first day of trading, taking off to atmospheric heights in their initial public offerings.
Rocket Fuel, an advertising technology company that relies on artificial intelligence, opened at $59.95 in their first day of trading on Friday, more than double their initial public offering price, and then jumped as high as $62.50.
Minutes later, shares in FireEye, a cybersecurity services provider, opened at $40.30, doubling their I.P.O. price of $20.
Both companies priced either at the top of an already-increased price range, as in Rocket Fuel’s case, or well above a heightened range, as FireEye has done.
Investors and deal makers are betting on a resurgence of technology I.P.O.’s by year end, after the sector stayed abnormally quiet for much of the year. As of last week, technology offerings comprised just 17 percent of all new stock sales, a five-year low.
Rocket Fuel trades on the Nasdaq market under the ticker symbol “FUEL.†FireEye is trading on the Nasdaq under the symbol “FEYE.â€
