ReachLocal Stock Jumps 15 Percent On First Day

ReachLocal

A very tough day for the stock market, but not for ReachLocal, which saw its shares jump 15 percent on its first day of trading. As we reported yesterday, however, ReachLocal, which helps small businesses advertise online, priced its shares at $13, instead of the hoped-for $17 to $19, so the IPO generated the company only about $54 million, instead of the up to $100 million it had initially filed to raise. The stock ended the day up $1.98 to close at $14.98. Contrast that with our ContentNextDex of digital media stocks, which ended the day down 3.84 percent.

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