Speaker maker Sonos goes public, but acknowledges vulnerability

Company shrugs off lacklustre opening trading as stocks surged 33% above its IPO price in its market debut Wall Street investors are still ... thumbnail 1 summary

Company shrugs off lacklustre opening trading as stocks surged 33% above its IPO price in its market debut

Wall Street investors are still hot for music technology – at least that was the message Sonos Inc broadcast this week after its stock SONO surged 33% above its IPO price in its market debut.

Shrugging off lacklustre opening trading, the maker of popular, high-end wireless and voice recognition speakers, closed out the day at over $19 a share on Thursday, giving the 16-year-old Californian company an implied market value of $1.95bn .

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from US news | The Guardian https://ift.tt/2OGmV1Z

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