 Online Learning Update Ray Schroeder, editor, COLRS - Online@Illinois SpringfieldOnline Learning Update - a blog published daily since 2001 by Ray Schroeder, Professor Emeritus, University of Illinois at Springfield |
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Saturday, June 19, 2004
Wall Street Welcomes Blackboard - Ellen McCarthy, Washington Post
Seven years after two fraternity brothers started Blackboard Inc. in a Dupont Circle rowhouse, they watched its stock surge 43 percent in the District company's first day of trading as a public company. Stock in the online learning company was priced at $14 a share, began trading at $15.80, rose as high as $23.38 and closed at $20.01. The greeting Blackboard received from investors surprised some Wall Street watchers. The 43 percent gain is small in light of the triple-digit percentage increases that were typical during the dot-com boom years. But it compares favorably with other recent initial public offerings: Four out of six companies that went public this month slipped below their offering price on the first day of trading, said Richard J. Peterson, a market strategist for Thomson Financial in New York.
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