Word: mathsoft
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Mutual funds are not the only red-hot investments these days. Initial public offerings have been equally incendiary. Like mutual funds, IPOs have been an attractive market for investors -- if they can avoid getting burned. For instance, weeks before MathSoft sold its stock to the public for the first time, eager investors lined up to get a piece of the action. Lured by brokers' pitches and a prospectus that touted the computer-software producer's growth potential, customers quickly snapped up the company's 2.5 million shares at $13 each when the issue began trading in February. After a brief...
...IPOs has hovered around 30%, compared with 5.3% for the Standard & Poor's index of 500 stocks. IPOs also give investors an opportunity to get in on the ground floor of what might be the next Apple Computer or Microsoft. But for every Microsoft, there are five flops, like MathSoft. And that's what makes market watchers nervous...
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