Backtracking

Shares of IntercontinentalExchange (ICE) soared nearly 70% on Wednesday to a high of $44.21 before backtracking to just under $39 following an initial public offering (IPO) of 16 million shares at $26/share. In October, the online energy futures exchange had expected to sell shares at $18-20. A growing need to mitigate energy price risk clearly is a big reason for such market exuberance, according to analysts.