SHARES SOAR: Stock in Caesars Entertainment nearly doubled by the middle of its first day of trading on the Nasdaq. It opened Wednesday at $9, jumped to $17.90 by midday and closed up 71 percent at $15.39.
STARTING SMALL: Putting just 1.4 percent of the company on the market created buzz and helped boost the price, but the move enabled insiders to sell more than 100 million additional shares, some now and some in six months.
MAY NOT LAST: Observers say the stock price may not hold out that long. A Morningstar analyst said the company, which went for more than $17 billion plus assumption of $12.4 billion in debt in 2007, isn't worth Wednesday's market value of $1.9 billion.
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