December 11, 2013 - Shares of Autohome (ATHM) soared 75% today after the company came public with a very successful IPO. The Autohome (ATHM) IPO opened around $31, dropped to $26, and then rallied back to $30 with 2 hours to go.
Autohome (ATHM) is a Chinese car buying website which generates almost all revenues from deal description services and other online ads. Autohome is kinda of like AutoTrader.com.
So is it time to buy ATHM? Keep an eye on today's close as well as tomorrow's open. If ATHM stock breaks $31.37, the stock is a buy with a tight stop.
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