The S&P 500 slid 0.35 percent while Nasdaq dropped 0.6 percent, adding to losses of more than 2 percent each on Thursday. The solid first-day pop in the stock stood in contrast to weakness in the wider US stock market. Its IPO priced at $21 a share late Thursday - $1 above the projected range of $18 to $20 each and was several times oversubscribed. It was last trading at $29.90, up 42 percent. At the stock’s opening price, Dropbox had a market valuation of $12.67 billion, well above the $10 billion valuation it had in its last private funding round. The stock opened at $29 on the Nasdaq and shot up to as high as $31.60 in early trading. The veteran fighting revenge porn on behalf of female Marinesĭropbox’s shares soared by as much as 50 percent in their first day of trading on Friday as investors rushed to buy into the biggest technology initial public offering in more than a year even as the wider tech sector languished. Insiders at Meta, Google say disappearing perks are killing the dreamĮlliott Management owns big Dropbox stake, holds discussionsĭropbox COO to step down as company announces mass layoffs
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