Cantor To Keep Spending On eSpeed; Share Price Skyrockets To About $60
TRANSACTION SYSTEMS
NEW YORK--Espeed Inc. seems to have proven that shares of electronic trading systems are as hot as those of Linux software vendors or most dot com companies.
After they began trading a week and half ago, the price of Espeed's shares almost tripled to $63.75 from the $22 offering price, before settling down to around $44 at the end of last week. At $44, Espeed has a market value of almost $2.5 billion, despite $6 million losses on revenues of only $24 million for the seven months ended September
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