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April 28, 2017 09:28 pm GMT
Carvana, the site for buying and selling cars, had a rough first day in the public markets. After pricing its IPO at $15 per share, it ended the day down 26% at $11.10. Bankers typically recommend a price that would cause the shares to go up about 20% or so on the first day, known as a “pop.” But Carvana maximized every last dollar in its $225 million offering, at the cost of… Read More
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/bVWUIiXyOAg/
Auto site Carvana tumbles 26% in stock market debut
Carvana, the site for buying and selling cars, had a rough first day in the public markets. After pricing its IPO at $15 per share, it ended the day down 26% at $11.10. Bankers typically recommend a price that would cause the shares to go up about 20% or so on the first day, known as a “pop.” But Carvana maximized every last dollar in its $225 million offering, at the cost of… Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/bVWUIiXyOAg/
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