PagerDuty pops more than 50% in debut as tech IPO market heats up

PagerDuty pops more than 50% in debut as tech IPO market heats up

5 years ago
Anonymous $fWzGa1uP8i

https://www.cnbc.com/2019/04/11/pagerduty-pops-more-than-50percent-in-debut-as-tech-ipo-market-heats-up.html

PagerDuty shares jumped more than 50% in their opening day of trading on Thursday in the first notable software IPO of 2019. Shares sold around $38 a piece, leaving PagerDuty with a market capitalization of around $2.7 billion. The stock had been priced at $24 Wednesday at a market cap of nearly $1.8 billion.

The rally, if it can be sustained, should offer some relief to technology investors following Lyft's post-IPO performance, especially with bigger companies like Zoom, Pinterest and Uber preparing to hit the public markets in the coming weeks. Lyft debuted at $72 on March 29, but has stumbled since, closing on Wednesday at $60.12.