Update (4:46 p.m.): Updated with Friday market close information.
The company, which makes ethernet switches for data centers that power the cloud, priced its IPO at $43 a share, above the expected range of $36 to $40 a share. Arista announced the initial public offering of 5.25 million shares, with a 30-day option for underwriters to purchase up to 787,500 additional shares of common stock at $43 a share to cover any over-allotments.
The stock opened at $55.25 and rose to a high of $60 for the day. It closed at $55 and more than 7.25 million shares traded during the day.Must Read: Warren Buffett's 25 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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