Square IPO sets off strong trading after company sputters at the starting block
by Sam Thielman in New York from Technology | The Guardian on (#V3TJ)
Stock opens at $9, less than CEO Jack Dorsey had hoped for, but rises to over $12 in early trading to keep hope alive for so-called unicorn startups
The "unicorns" are still alive! Just. The share sale of mobile payment company Square got off to a good start on Thursday - but only after the Silicon Valley startup was forced to slash the price of its offer.
Square, one of the Silicon Valley "unicorn" startups - companies valued at billions of dollars despite an absence of profits - began trading on Thursday morning on the New York stock exchange.
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