Microstrategy Inc, the Vienna, Virginia-based decision support software vendor, successfully launched its initial public offering of 4 million shares at $12.00 a piece – up from the original range of $8 to $10. The shares were well received, trading as high as $24.50 before closing the day at $21.125, an increase of 76% over the offering price. The offering, which analysts said was massively oversubscribed, offers further proof that technology stocks can still fair well in an otherwise cool market for IPOs. Some analysts are speculating that the strong showing may also have been due in part to a spillover effect from the awesome debut of internet software developer Inktomi Corp on Wednesday (CI No 3,429). The company’s common stock is now being traded on the Nasdaq National Market under the ticker symbol MSTR
