Section II measures the overall amount of errors in opening prices. Section III tests the correlation between reaction speed and error in prices.
To address this issue, I use NASDAQ market opening prices from September 1997 to January 2001.
This low valuation was undoubtedly a major reason for the high opening prices
of the October IPOs.
Each year, opening prices
are generally weak during this period because of the large number of IPOs.
currently range from $395,000 to $570,000.
are often much higher than offering prices in May because of the small number of issues.
start at $570,000 (estimated) and go up to $2 million (estimated).
The company added in its weekly report issued on Sunday that the corrections contributed to the fall of the ounce of gold from the level of USD 1250 to 1225, the lowest level since last March and USD 37 more than the opening price
. Gold was also affected by the recovery in the global stock markets, especially for high-yielding stocks and bonds, as well as the possibility of raising US interest rates in June, making investors reluctant to seek a safe haven.