Shares of online used car seller Vroom soar in Nasdaq debut
Vroom shares ended the day up 117 percent at $47.90
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The online used car seller Vroom made quite a debut as a publicly traded company on Tuesday, more than doubling on the first day of trading.
Vroom shares ended the day up 117 percent at $47.90. The company priced its offering on Monday at $22 each, higher than the upward revised range of $18 to $20 per share. Shares opened at $40.25.
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That values the company at $5.4 billion.
Shares are trading on the Nasdaq under the ticker VRM.
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Vroom's e-commerce platform brings all phases of vehicle buying and selling to consumers wherever they are and offers a selection of vehicles, transparent pricing, competitive financing, and contact-free, at-home pick-up and delivery.
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Vroom is the latest in the recent run of company's going public including Warner Music and ZoomInfo.