Jamdat shares up 45 percent in first day of trade

September 30th, 2004 by Arjan Olsder Posted in Companies & M&A | No Comments »

Shares of wireless game maker Jamdat Mobile Inc. (JMDT.O: Quote, Profile, Research) rose as much as 45 percent on Wednesday in their first trading day, boosted by investors betting on the emerging sector of mobile video games.

Jamdat shares were up $6.56 at $22.56 in afternoon trading on Nasdaq after 5.55 million shares were priced at $16 in the company’s initial public offering.

Video gaming analyst Colin Sebastian of Schwab Soundview Capital Markets said investors were attracted by a growing market in which few publicly traded companies compete so far. More …

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