Carvana, the site for buying and selling cars, had a rough first day in the public markets. After pricing its IPO at $15 per share, it ended the day down 26 percent, at $11.10. Bankers typically recommend a price that would cause the shares to go up about 20 percent or so on the first day. But Carvana maximized every last dollar in its $225 million offering, at the cost of new investors. Read More
by Katie Roof via Endless Supplies .Us - News
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