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Security First stock closes down on first day of trading

Published on .

Internet company initial public offerings have been hotter than hot recently. But Thursday's IPO for Security First Network Bankdidn't match up to earlier performances. The stock closed at $41, down from $42 at the opening. It hit a high of $45 early in the day. Security First is an Internet bank allowing traditional banking activities to be completed online. The stock was originally priced at $20; Friedman, Billings, Ramsey & Co. was the underwriter.

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