Open above the IPO prices

After Lyft IPO failed (and is trading lower since the IPO) the IPOs of Pinterest and Zoom were hoped to be better for investors.

Both are now open and both are trading well above the IPO prices.

Pinterest was priced at $19. It is trading at $23.21

For Zoom, it is doing much better than that. It was priced at $36. It is currrently trading at $62.50.

Personally, I have not intererst in Pinterest. As for Zoom, my wife swears by it but at $62.50 when the smartest people in the world priced it at $36? Seems a bit rich to me.

The overall market is mixed but off lows

  • S&P is down -2.6 points or -0.09% 2897.89. THe low reached 2891
  • Nasdaq is down -21.7 points or -0.27% at 7974.34. The low reached 7950.97
  • Dow is up 53 points or 0.20% 26 500. The low reached 26444