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. |
France is trying Syrian exMark Wahlberg's new actionMPs' fury at 'virtueGreek judge dismisses case against 9 Egyptians accused of causing a deadly shipwreckFlight attendant reveals why plane passengers should NEVER fall asleep before take offIsraeli army says it kills over 130 militants in E. RafahSophie Morgan suddenly quits ITV show Loose Women as she reveals plans for emigrationDemi Moore, 61, says fullJude Bellingham's new model girlfriend Laura Celia Valk looks sensational in a figureNew York Liberty improve to 4