(COUP) Surges +87.5% on First Day

Shares of (COUP) closed up +14.00 or +87.5 percent to $30.00 per share on Friday after the company had their Initial Public Offering. The company had originally priced the offering at $12-$15 per share in their initial filings to go public in October, but raised the offering price to $16 per share. The company sold a total of 10.5 million shares and raised $168 million.

Mountain View, California based Inc. was founded in 1998 by Stephen Boal, Chairman and Chief Executive. Much like competitor Groupon (GRPN), the company is a digital promotion platform offering free printable coupons for businesses such as retailers, large restaurants, entertainment companies to name only a few. The company also offers coupon codes to consumers and display advertising for retailers. More than 700 consumer packaged goods firms use Coupons.comâ s platform. The companyâ s original stock sale at $16 per share valued the company at $1.2 billion. With the additional $16 surge in the stock price, the companyâ s market cap exceeds $2 billion. Shares opened Friday at $27.15 per share and soon traded as high as $33.00 before finally settling at $30 per share. CEO and founder Stephen Boal and his wife were at the opening bell ceremonies Friday at the New York Stock Exchange, which marked the companyâ s IPO. He stated that, â

Published on Mar 10, 2014
By Jay Hawk
Jay Hawk
Jay Hawk enjoyed a 12-year professional financial markets career incorporating extensive first hand futures and options experience obtained by trading in the stock, commodity and forex markets on U.S. exchanges. Since retiring as a full-time financial market professional, he has been actively trading stock, commodities, forex and options for his own account and managing funds for others, as well as writing financial market commentary and educational articles.

Copyrighted 2020. Content published with author's permission.

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