Shares of Telos Corp. soared out of the gate Thursday, because the safety software program firm’s inventory traded as a lot as 30.6% above the place its preliminary public providing priced, earlier than paring beneficial properties in noon buying and selling. The inventory’s first commerce at $21.90 at 11:14 a.m. for 1.Zero million share, which was 28.8% above the $17 IPO worth. The inventory then rose to an intraday excessive of $22.20, earlier than pulling again to be up 16.9% in latest buying and selling. The intraday low was $19.50. The inventory’s first-day rally comes because the Renaissance IPO ETF climbed 2.0% and the S&P 500 slipped 0.1%.Market Pulse Tales are Fast-fire, brief information bursts on shares and markets as they transfer. Go to MarketWatch.com for extra info on this information.
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2020-11-19