Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of lumber company Boise Cascade (NYSE:BCC) jumped as much as 27% today after its IPO.

So what: The official IPO price for select investors was $21 per share this morning, but on the open market they were never near that price. Shares opened over $25 and never looked back. Private-equity firm Madison Dearborn controls the company.  

Now what: Even the IPO price was well above a floated initial range of $16 to $18 per share. Investors are gobbling up stocks that may benefit from a housing rebound, and that has helped push the stock higher. Buying on IPO day can be a risky investment if you're not lucky enough to get in at the IPO price, so I'd wait to see where shares settle out before jumping in.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.