FVRR stock isn’t doing so hot just one day after the start of the Fiverr IPO.
Fiverr (NYSE:FVRR) entered the public space on Thursday with the launch of its IPO. This has the company offering its shares on the New York Stock Exchange for a starting price of $21.00 each.
The first day of trading during the Fiverr IPO saw FVRR stock surge above its start price of $21.00 per share. The closing price for the stock on Thursday was $39.65. This had it increasing a total of 88% that day.
Now that the excitement around the first day of trading for the Fiverr IPO has died down, so has the value of FVRR stock. FVRR stock was trading at around $34.56 as of Friday afternoon. This is down 12% from its close yesterday. However, the stock is still sitting at about 64% above what it was when the IPO first started.
The Fiverr IPO still has a few days to go. It will reach its completion on June 17, 2019. This IPO has the company offering its shares at $21.00 each and there are a total of 5,263,158 shares available. An additional 789,473 shares of FVRR stock are also available to underwriters of the IPO.
The Fiverr IPO can value the company at between $110,526,318 and $127,105,251. The lead joint book-running managers for the IPO are J.P. Morgan Securities and Citigroup Global Markets.
More From InvestorPlace
- 4 Top American Penny Pot Stocks (Buy Before June 21)
- 10 Stocks to Buy That Wall Street Expects to Soar for the Rest of 2019
- 7 Value Stocks That Are Flying Under the Radar
- 6 Mouth-Watering Fast Food Stocks for Growth Investors
As of this writing, William White did not hold a position in any of the aforementioned securities.
The post Fiverr IPO: FVRR Stock Falls Following Strong First Day Debut appeared first on InvestorPlace.