Is it back to business as usual in the hi-tech IPO market? Recent deals on both sides of the Atlantic – including flotations of the internet stocks theglobe.com and Earth Web in the US, and offerings such as DataDesign, Articon Information Systems and mb Software in Europe – suggest so. Investors are once again throwing their cash into the most volatile, thinly traded and under-researched sector of them all. Shares in theglobe.com, which helps people build their own websites as part of an online community and has not yet turned a profit, were priced at $9 at new issue in mid-November.
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