NYMEX Holdings, Inc. (NYSE:NMX) skyrocketed at open today as one of the hottest IPOs this year began trading. The company priced above its already-raised expected range last night at $59 per share, but this proved to be far less than investors were willing to pay as the stock rocketed over 100% in morning trading to over $140 a share. Many investors are driven to buy Nymex after seeing red hot performance and M&A activity amongst other exchanges: The NYSE IPO'd not long ago and performed extremely well; the LSE was the subject of a bidding war; the CME and CBOT were involved in a merger/buyout; and the NASDAQ has been red hot since it went public. Here's a chart showing three of the largest exchanges that have clearly outperformed the market during the past few years:
Investors appear confident that the Nymex will perform similarly, and some are even speculating the Nymex could be the subject of a
buyout as consolidation within the industry continues. This stock is
definitely
one to watch as exchanges continue to outperform the rest of the market.
Related CompaniesNYSE Group, Inc. (NYX)CBOT Holdings, Inc. (CBOT)Chicago Merchantile Exchange Holdings (CME)