Who cares if they don’t make money, or actually have contracts to sell batteries to major car makers? A123 is hot stuff in its first day of trading.
The stock has soared 40% going as high as $20.20, as investors look to grab a slice of the electric pie.
It’s great news for A123 and its founders, but it’s equally great news for all the other venture backed startups out there. The IPO market is coming back to life. This is another positive sign that will encourage startups and VCs.
Speaking of VCs and startups…after today’s big news from Twitter–$100 million raise at $1 billion–PEHub tweeted this question, “Which valuation is more inflated? Twitter ($1b) or A123 (nearly $2b)? Or neither?”
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