Shift4Payments’ stock blasts off in its public debut

Shift4Payments’ stock blasts off in its public debut

Shares of Shift4Payments Inc. soared in their public debut, after the payments-processing and technology company’s initial public offering priced at $23, above the expected range of $19 to $21. The company raised $345 million in the IPO. The stock’s first trade was at $33.10, or 43.9% above its IPO price, at 11:31 a.m. Eastern for 2.8 million shares. The stock has gained since then, to trade 47.0% above its IPO price. The company went public at a good time for the IPO market, as the Renaissance IPO ETF has rallied 20.0% over the past three months, while the S&P 500 has advanced 5.9%.

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