Bulletin
Investor Alert

New York Markets Open in:

Market Pulse Archives

May 17, 2019, 11:17 a.m. EDT

Luckin Coffee's stock soars in its debut, as it opens nearly 50% above its IPO price

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Renaissance IPO ETF (IPO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Luckin Coffee Inc.'s stock debuted with a bang on the Nasdaq, as it opened nearly 50% above its initial public offering price. The first trade was at $25 at 11:08 a.m. Eastern for 5.0 million shares, 47% above the $17 IPO price, as the China-based coffeeshop chain raised $561 million. The stock has extended gains since, to trade 51% above its IPO price. At the IPO price, which priced at the top of the expected range, the company, known as the Starbucks of China, had a market capitalization of $3.9 billion. The company went public at a time the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -2.50% has rallied 34% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.15% has advanced 15%.

/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 69.40
-1.78 -2.50%
Volume: 594,449
Jan. 26, 2021 8:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,849.62
-5.74 -0.15%
Volume: 2.56B
Jan. 26, 2021 5:17p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.