IPO Breakouts: Ollie's Bargain Outlet Holdings Inc (OLLI) and ProNAi Therapeutics Inc (DNAI)

Ollie's Bargain Outlet Holdings Inc (OLLI) and ProNAi Therapeutics Inc (DNAI) are having strong IPO sessions thus far

Jul 16, 2015 at 11:45 AM

The new kids on the block, Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI) and ProNAi Therapeutics Inc (NASDAQ:DNAI), are having a fine debut session thus far. The former is a Pennsylvania-based discount retailer, the latter a Michigan-based oncology firm; both went public on the Nasdaq today.

OLLI priced its shares at $16 apiece -- above the expected $13-to-$15 area -- and opened at $22.68. The shares were last seen at $21.15, marking a 32.2% jump from their IPO price.

DNAI priced its IPO at $17, and opened at an impressive $28.68. What's more, the stock touched an intraday peak of $33.75 -- nearly twice its IPO price -- and was last seen lingering around $30.77.

Could either of these stocks be the next Fitbit Inc (NYSE:FIT)? The fitness device maker has more than doubled from its mid-June IPO price of $20, and just yesterday tagged a record high of $48.98. At last check, FIT was fractionally lower at $47.24. Or will they be the next TransUnion (NYSE:TRU)? Shares of the credit bureau started off strong, but have eased lower since their late-June debut.

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