Qihoo 360 Stock Surges After IPO

Published by: Frank Galvano on 30th Mar 2011 | View all blogs by Frank Galvano

Qihoo 360 Stock Surges After IPO

Shares of Qihoo 360 rose sharply in their debut Wednesday after the company priced its initial public offering at a price $2 higher than the proposed range. On the New York Stock Exchange the stock traded up to more than $30 per share, or more than double its IPO price of $14.50.

Qihoo 360 is China's third-largest Internet company based on number of users and the nation's leading provider of Internet and mobile security offerings. Its 360 Safe Browser is the second most popular in China behind Microsoft's Internet Explorer.

The company's $176 million IPO is just the latest in a string of Chinese Internet IPOs stemming from last quarter, including Youku.com and online retailer Dangdang. The companies have yet to gain any real traction on the NYSE as most have seen share prices fall below the value of their respective IPOs. The fate of Qihoo 360, meanwhile, remains to be seen.

Comments

0 Comments

Please login or sign up to post on this network.
Click here to sign up now.

Latest DT's

Listen to the New Song from Pantera

Recorded during the Vulgar Display of Power sessions, 'Piss' is the final unreleased track by Pantera. 'Piss' ... View DT's

1 month ago by Geno
Baylor Women Become 1st 40-0 NCAA Team in History, Men or Women

The Baylor women's basketball team dominated the Notre Dame Fighting Irish on Tuesday, earning the national title and becoming ... View DT's

1 month ago by dallaseste
Google Acquires Milk for Talent Including Digg Founder

Google Inc made a significant addition to its talent pool this week by bringing in Digg founder Kevin Rose and some other ... View DT's

2 months ago by Geno
Federal Reserve Posts $77 Billion Profit for 2011

The Federal Reserve issued its financial reports to the public on Tuesday, showing that it made a substantial profit of $77.4 ... View DT's

2 months ago by Geno
Jimmy Page to Release New Album of Lost Solo Tracks

Legendary Led Zeppelin guitarist Jimmy Page revealed over the weekend he has a new album coming out on Tuesday. Read More View DT's

2 months ago by Geno
Neil Young's "Americana" Due In June

Neil Young announced on Monday his upcoming "Americana" album will arrive in stores on June 5th. Read More View DT's

2 months ago by Geno
Garbage Debuts First New Single in 7 Years

Alternative rock veterans Garbage debuted a new song entitled "Blood for Poppies" Monday, making it available as a free ... View DT's

2 months ago by Geno
Dates Announced for KISS / Motley Crue Tour

KISS and Motley Crue, two of the most iconic rock acts ever, are hitting the road together this summer in what is being billed ... View DT's

2 months ago by Geno
Washington Redskins Give Up 3 No. 1 Picks for Robert Griffin III

According to a report from NFL Network contributor Jay Glazer, The Washington Redskins reached an agreement Friday night with ... View DT's

2 months ago by dallaseste