So far, so good for GoDaddy’s IPO.
It’s not an April Fool joke — GoDaddy is off to a great start in the public markets.
Shares began trading at about $26 today, 30% over where the IPO priced. The $20 pricing was itself above the expected range of $17-$19.
At $26 a share, the company is being valued at about $4 billion.
The nice open might be affecting shares of rival Web.com (NASDAQ: WWWW), which are up close to 3% today. Other domain name stocks are mixed. Tucows shares are up about a percent and Rightside is trending downward.
We’ll see if GoDaddy’s 30% jump holds through the day.
Robbie says
Long time coming, I think some not so smart money will be playing it as a tech play, they have bought many companies which might help margins, but margins are slim, and profits are still off, maybe more of an indication in the markets than the company overall given it’s price jump