Ollie's Bargain Outlet Holdings Inc (OLLI) and ProNAi Therapeutics Inc (DNAI) are having strong IPO sessions thus far
The new kids on the block, Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI) and ProNAi Therapeutics Inc (NASDAQ:DNAI), are having a fine debut session thus far. The former is a Pennsylvania-based discount retailer, the latter a Michigan-based oncology firm; both went public on the Nasdaq today.
OLLI priced its shares at $16 apiece -- above the expected $13-to-$15 area -- and opened at $22.68. The shares were last seen at $21.15, marking a 32.2% jump from their IPO price.
DNAI priced its IPO at $17, and opened at an impressive $28.68. What's more, the stock touched an intraday peak of $33.75 -- nearly twice its IPO price -- and was last seen lingering around $30.77.
Could either of these stocks be the next Fitbit Inc (NYSE:FIT)? The fitness device maker has more than doubled from its mid-June IPO price of $20, and just yesterday tagged a record high of $48.98. At last check, FIT was fractionally lower at $47.24. Or will they be the next TransUnion (NYSE:TRU)? Shares of the credit bureau started off strong, but have eased lower since their late-June debut.