NEW YORK (AP) — Shares of Ibotta, a Walmart-backed digital company that offers customers cash-back rewards and rebates on grocery brands ranging from Nestle to Coca-Cola, rose 17% in their Wall Street debut.
The stock, which trades under the ticker “IBTA” on the New York Stock Exchange, opened Thursday at $117, well above the $88 offering price. By mid-afternoon trading, it had lost some momentum and closed at $103.25, giving it a market value of more than $3 billion.
Ibotta joins a handful of tech companies like Instacart and Reddit that enjoyed a solid debut in the public markets. Last September, grocery delivery Instacart’s shares finished the day up 12.3% on Nasdaq, giving the company a market value of more than $11 billion. Reddit’s stock soared in its Wall Street debut in March of this year as investors pushed the value of the company close to $9 billion seconds after it began trading on the New York Stock Exchange.
Related articles:
Related suggestion:
Village Official Promotes Rural Residents' WellYemeni Businessman Serves as Cultural Ambassador on New Silk RoadBeijing Carved Porcelain Embodies Unique Artistic CharmEstablishing China's First Private RestaurantRelics tumble out of wall at Longmen GrottoesPluck and Moxie! Trailblazer Dedicated to Saving Lives During EmergenciesHou Hongqin: Working Hard to Ensure Qinqiang Opera ThrivesJoin the Efforts! Federations, Women, Families Contribute to Food Production, ConservationStriving for a Sweet, Happy Family LifeSmall Mountainous Village Amazes Big World
2.8773s , 6489.5859375 kb
Copyright © 2024 Powered by Ibotta IPO: Shares of Walmart ,Stellar Stories news portal