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Sept. 24, 2021, 1:11 p.m. EDT

Cue Health stock opens nearly 5% above IPO price, then keeps rising

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By Tomi Kilgore

Cue Health Inc. /zigman2/quotes/229642598/composite HLTH +2.15% received a warm reception on Wall Street Friday, as the stock opened 4.8% above its initial public offering price, and kept rising. The California-based COVID-19 test maker's IPO priced overnight at $16 a share, in the middle of the expected range, as the company raised $200.0 million. The stock's first trade was at $16.76 at 11:37 a.m. Eastern for 1.4 million shares. The stock rallied since then, and was recently up 27.8% at $20.45 in afternoon trading, which values the company at about $2.94 billion. The stock's strong debut comes on a day that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +0.83% dropped 1.1% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.15% was little changed.

/zigman2/quotes/229642598/composite
US : U.S.: Nasdaq
$ 10.45
+0.22 +2.15%
Volume: 15,320
Oct. 20, 2021 9:33a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.43 billion
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 68.90
+0.57 +0.83%
Volume: 200.00
Oct. 20, 2021 9:32a
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/zigman2/quotes/210599714/realtime
US : S&P US
4,526.34
+6.71 +0.15%
Volume: 79.99M
Oct. 20, 2021 9:34a
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