Groupon IPO stock hits a high of $31.14, a 55% gain on its first day of trading

Groupon, Inc. has launched its Initial Public Offering on Friday, offering 35 million shares at a price of $20 per share. On its first day of trading, Groupon’s price per share rose as high as $31.14, 55 per cent above the original $20 IPO price. Groupon’s shares ended their first day at $26.11, 31 per cent above their $20 IPO price, raising the second highest tech company’s valuation of $12.7 billion to reach approximately $16.7 billion. The company’s 35 million Class A common shares make up only 5 per cent of the company.
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