TrueCar Goes Public at $9, Shares RiseFriday, May 16, 2014
Shares of auto shopping website TrueCar began trading on the Nasdaq stock market this morning. Shares, priced initially at $9 each, moved higher in early trading, rising to $10.47. It had been expected to price its offering at between $12 and $14 a share.
The Santa Monica company reportedly raked in $70 million on its offering of 7.78 million shares, putting its market value at $639 million.