Angie's List Makes Strong Debut on Nasdaq
But can it maintain high share prices?
Subscription-only review website Angie’s List debuted on the Nasdaq today, after selling 8.79 million shares at the high end of its expected $11 to $13 range during its initial public offering. The company’s stock made impressive gains in trading this morning, opening at $18 a share—a 39 percent increase over its IPO price of $13.
Although analysts weren’t surprised by the company’s first-day success, they’re not convinced that Angie’s List shares will remain as strong going forward, according to the Wall Street Journal.
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