Pinterest ends its first day of trading up 28%.
div > div.group > p:first-child"> The bump pushed Pinterest's market cap above $12 billion after it was initially priced at $19 per share, which had valued it at $10 billion. The stock continued to climb, rising 28.4% to trade at $24.40 per share with a market cap of nearly $13 billion.
The debut is the latest in what's shaping up to be a huge year for tech offerings, with Uber's IPO set for the coming weeks and Slack's direct listing reportedly on the horizon. Lyft was the first to hit the market in March, followed by software company PagerDuty last week and then Zoom, which began trading on Thursday just minutes before Pinterest.
This distinction has helped Pinterest avoid becoming embroiled in some of the same controversies as other tech platforms. Recently, Pinterest restricted search results related to vaccinations once it became aware that it was becoming a vehicle for the spread of misinformation encouraging people to avoid vaccines.
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