Both Pinterest and Zoom Video Communications began their first day of trading on Thursday. Pinterest, whose ticker is PINS, debuted at US$23.75, up 29.09 per cent from its IPO price in late-afternoon trading. And, Zoom, with the ticker ZM, was up 73.72 per cent. (CNBC)
Talking point: After a disappointing debut from Lyft in March, a successful debut from Pinterest and Zoom indicate continued confidence from investors in tech IPOs. Zoom is doing much better than Pinterest in its debut; that may be because it reached profitability before going public, unlike other tech firms going public, like Pinterest, Lyft and Uber. Meanwhile, the small Chinese company Zoom Technologies, ticker ZOOM, may be benefitting from people confusing its ticker with the newly IPO’d Zoom Video Communications. Its stock surged nearly 100 per cent on Thursday.