Pinterest shares on the first day of trading rose 28%

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The visual search service Pinterest began trading stocks on the New York Stock Exchange. They got the PINS ticker.

At the opening, the value of the company’s shares rose by 25% from the IPO price – from $ 19 to $ 23.75 per share, while capitalization exceeded $ 12 billion.

During the course of trading stocks continued to grow. At the end of the trading day, their value increased by 28.42% to $ 24.40 per share, while capitalization approached $ 13 billion.

Pinterest

Pinterest filed an official application for an initial public offering (IPO) in March 2019. Before entering the stock exchange, the company valued itself at $ 10-11.3 billion.

At the end of 2018, Pinterest’s monthly audience was 265 million people. A typical user of the service is a woman aged from 18 to 64 years old with children. According to the latest data, the weaker sex accounts for 80% of the service audience, and only 20% for men.

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