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Bloomberg News
A hot “dot-com” stock? Say what? Support.com Inc. (SPRT) shares more than doubled Wednesday after the provider of technical-support software for the Net raised $59.5 million in its initial public offering.
The stock surged $18.63 to $32.63 on Nasdaq. The firm sold 4.25 million shares at $14, above its indicated range of $11 to $13.
Despite the market’s general suspicion of anything dot-com these days, Redwood City, Calif.-based Support.com’s software is already in use at some blue-chip firms, which may have boosted the company’s image with investors, analysts said.
