The hottest initial public offering from 2013 isn’t a cloud technology stock, or a biotech company with a promising cancer drug.Having concluded that oil and gas were just a passing fad, this is what we were posting the month Emerge came public:
The company behind the top-performing IPO in the past 18 months digs sand.
Through Friday, sand-mining company Emerge Energy Services LP has rallied 462% since its debut on May 8, 2013, for the biggest share-price gain since its IPO among companies that went public last year, according to Dealogic.
Emerge Energy has been enjoyed brisk profit growth, selling sand to the oil and gas drillers behind America’s shale energy boom. In techniques such as hydraulic fracturing, drillers keep cracks in shale formations propped open with coarse-grained sand, allowing the oil or gas to through.
“We would credit it to strong industry fundamentals as well as the fact that our businesses themselves have performed well and generated significant cash flow and returns for investors and continue to look pretty strong,” Emerge Energy Chief Financial Officer Robert Lane said of the share performance.
The company is among a small handful of frac-sand producers that have gotten a warm reception from investors lately. Peers Hi-Crush Partners LP and U.S. Silica Holdings Inc. have both seen their shares climb more than 120% the past year....MORE
The Internet of Things: Huggies App Sends You a Tweet Whenever Your Kid Pees...
The Ethics of Torturing Robots
British Psychologists Bashing British Psychiatrists
Psychologist Psychiatrist
I so wish I were kidding.
