Before Thursday's two IPOs, STR Holdings (STRI) and Duoyuan Printing (DYP), the 13 offerings priced in the last 30 days had produced a tepid 2% average first day pop. Against that backdrop, it is not surprising that the latest two deals encountered pricing headwinds; STR priced below its downwardly-revised range and Duoyuan Printing set its offer price at the low end. However, in the case of STR Holdings, deal pricing pressure did not hold back first day trading, as the stock jumped out to an impressive 31% gain, marking the fifth largest first day pop of 2009. STR Holdings was also the first solar-related IPO since GT Solar (SOLR) went public in July 2008 and the best first day performer since clean energy peer A123 Systems (AONE) posted a 50% first-day gain in late September.
