Discussing whether a string of IPOs today signal new-found confidence in the stock market, with Michael Yoshikami, Destination Wealth Management; David Menlow, IPOfinanical.com; and CNBC's Rick Santelli, Ron Insana & Steve Liesman.
By Roland Jones, NBC News
Shares of real estate listing service Trulia surged on their debut on the New York Stock Exchange Thursday, jumping close to 50 percent as investors placed bets on an improving housing market.
San Francisco-based Trulia?s website and mobile apps provide information on housing prices, city information and other real estate services. Its shares traded under the ticker symbol ?TRLA.?
Trulia?s market debut was one of five IPOs in the market Thursday -- an unusually busy day for public stock offerings and the first time it has happened since February.
David Menlow, president of the research firm IPOfinancial.com, said the number of IPOs Thursday was a good sign for the market.
?Money is out there and it?s burning a hole in many investors? pockets; they want to deploy it and for the right price they?re going to do it,? Menlow told CNBC.
The surge in IPO activity is an indication that the market is ?way past? what we saw with the Facebook offering earlier this year, he added.
Facebook?s botched IPO in May cast a pall over the market for stock offerings and has seen the social network's share price slump 40 percent from its initial offering price of $38.
Source: http://marketday.nbcnews.com/_news/2012/09/20/13991787-trulia-shares-surge-in-big-day-for-ipos?lite
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