Intrepid Potash's (IPI) Successful IPO Shows That Ag Is Still Hot

April 22, 2008 3:42 PM EDT

Today's IPO Intrepid Potash (NYSE: IPI) is a testament to the momentum in ag stocks.

After pricing 30 million shares at $32 and opening at $46, shares of the largest producer of potash in the U.S. are now trading near the days high at $51.

The timing couldn't be better for Intrepid, with others in the sector hitting new highs daily: Potash Corp. of Saskatchewan (NYSE: POT) is up nearly 250% over the last year, The Mosaic Company (NYSE: MOS) is up 380% over the last year and Agrium (NYSE: AGU) is up 120% in that time frame.

But on a cautious note, with the success of Intrepid Potash, many other second tier players may make a run for the public market. When you see signs of this it may be time to head for the exits. [LJ]

Related Categories

Insiders' Blog
IPOs
Momentum Movers

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?