Fitbit Shares Soar to $30.40 Opening Price on First Day of Trading
Fitbit shares opened at $30.40 on their first day of trading Thursday on the New York Stock Exchange, one morning after the supplier of fitness-tracker wearables priced its 36.6-million-share initial public offering at $20 a share. Shares reached a high…
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of $31.90 Thursday before closing the day 48.4 percent higher at $29.68. Fitbit “pioneered the connected health and fitness market” and through March 31 had sold more than 20.8 million devices since its 2007 inception, the company said last month in its IPO registration statement (see 1505080035). The stock is trading under the ticker symbol FIT.