Pinterest closed its first day of public trading at $24.40 per share.
The stock began trading on the New York Stock Exchange on April 18, 2019, under the ticker PINS. It opened at $23.75 and finished the session at $24.40, giving the company a strong first-day performance.
The closing price represented a gain of about 28.6% from Pinterest’s $19 IPO price. The market’s response contrasted with the company’s cautious pricing process: Pinterest had initially proposed a $15-to-$17 range before setting the final offering price above that range.
Readers commonly confuse the opening, high, and closing prices. Pinterest’s first trade was $23.75, the stock reached an intraday high of $24.99, and the official closing price was $24.40. The $19 figure was the IPO price, while $24.40 was the end-of-day market price.