JFrog IPO Surges 47% on Its First Day of Trading
JFrog (NASDAQ: FROG) became the latest tech unicorn to have a successful initial public offering (IPO) after investors scooped up the stock. The company makes what it calls "liquid software," also called continuous software release management (CSRM) for developers, which helps ensure users have the most recent versions of software. Due to significant interest, the stock price was increased numerous times over the past week.
Management initially priced the shares in a range of $33-$37 per share, but bumped the range to $39-$41 per share after heavy demand. Even that wasn't enough, and JFrog shares were eventually priced at $44 on Wednesday prior to its debut.
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Source Fool.com
