HomeAway's Big First Day a Head Scratcher for Some
IPO gives bubble talk a boost
It was up up and away for HomeAway’s IPO Wednesday.
Shares in the vacation rental website started trading at $27, but over the course of the day they soared 49 percent to close at $40.21 a share.
The Austin-based company, which began the day with a valuation of just over $2 billion, ended its first day as a public company with a valuation of more than $3.2 billion.
While the big opening pop likely pleased early investors and bankers, it left some analysts shaking their heads.
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