Friday, July 08, 2005

Kids Nowadays...

Volcom shares gained 41% in the first day of trading on July 6th, the second-best debut this year. The shares finally settled at the market close at $26.77 after a high of $31.20 with an opening price of $19. Almost 4.2 million shares were exchanged and the company's market value went to $625.3 million (an increase of $181 mill to the original value). This incredible gain is to be used to repay debt, upgrade their CA facilities and market their "youth against the establishment" brand. The financial district has never been so stylish.

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