Friday, June 19, 2015

Fitbit Shares Surge 48 Percent in Market Debut - The New York Times

A healthy start

"The shares opened at $30.40 on Thursday morning, up 52 percent from the I.P.O. price of $20. They closed up 48.4 percent, or $9.68, at $29.68.

The company, which sells popular wearable fitness-tracking devices like the Fitbit Surge bracelet, raised the price above its previous range of $17 to $19 a share and increased the size of the deal to 36.6 million shares from 34.5 million.

The company raised $732 million for itself and its selling stockholders. The I.P.O. price valued Fitbit at $4.1 billion."
Fitbit Shares Surge 48 Percent in Market Debut - The New York Times
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