Godaddy (GDDY) which went public today at $20 IPO price is trading as of publication at $26.30, up $6.30
Godaddy’s first trade was at $26.18 then slipped as low as $25.49 before bouncing to its inter-day high of $26.84.
Over 10,500,000 shares of Godaddy were traded in less than the 1st hour of trading.
Godaddy sold 22 Million shares at $20 a share so more than 50% of the amount of shares available to be traded have been traded already in the first hour.
Can’t wait to short it. With any luck it hits $30 on low volume this week.
Well its not going to be low volume over 15M shares have traded and only 22M are available
Hello MHB,
All new offerings have ARB support, when the arbs back off look out below. JAS 4/1/15
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)