Source: thinkstock
What we were unable to say at the time was how high the stock would fly. Now, we know. Shares are up more than 43%, at $22.89 a few minutes before noon today.
This is the sort of IPO that investors and underwriters love because profits are thick on the ground. But did the company get what it paid its underwriters for? The nearly $7 per share jump means that Xoom left more than $35 million on the table. Sure a big jump following an IPO launches a new company with a lot of good feelings. But wouldn’t it rather have the cash?
Shares have risen even further in the 10 minutes or so it took to write this, now up 43.8% at $22.84.
ALERT: Take This Retirement Quiz Now (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
