Cardlytics Inc. is up over 20% in afternoon trading Monday, on its second trading day after the company’s Friday initial public offering. The stock traded up 20.46% to $16.13, after closing 2.9% above its $13 IPO price the first day of trading. The marketing-data company’s executives told MarketWatch that even as the S&P 500 index index entered correction territory last week, there was no discussion about yanking the IPO and taking the company public during more favorable conditions. In the nine months ending in September, Cardlytics logged losses of $16 million on sales of $91 million. Its IPO netted $70.2 million after pricing at the low end of the $13-to-$15 forecast range. Chief Executive Scott Grimes called Cardlytics “a money machine” in an interview.
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