The closing price of Netscape that day eventually ended at 49 US Dollars, which was 3.5 times the issue price and double the opening price!
Similarly, on the first day of its listing, Netscape's market capitalization soared straight from an IPO valuation of 1.8 billion US Dollars to 63 billion US Dollars.
It broke all Wall Street records for stock offerings, including that of Bit Company four years earlier.
This company, established for two years and truly profitable for less than one, created dozens of millionaires overnight.
On the first day of listing, the stock price even peaked near 70 US Dollars at its highest.
Wall Street and stock analysts simply couldn't understand Netscape's stock.
The expertise they relied on for survival seemed to fail them at this moment.
Because there were so many clients interested in Netscape's debut offering, Charles Schwab even changed their telephone voice response.
