
Square (SQ) Stock Climbs Higher Following Market Debut
NEW YORK (TheStreet) -- Square (SQ) - Get Report stock is climbing 0.15% to $13.09 in early-afternoon trading on Friday, after soaring as much as 64% in its market debut on the New York Stock Exchange yesterday.
The stock was priced at $9 per share on Wednesday evening, valuing the San Francisco-based mobile payments company at nearly $3 billion.
The IPO's price was short of its projected offering range between $11 per share and $13 per share, and even farther below the $15.46 price in its final round of private financing.
"What they did was give you a bargain to attract you," TheStreet's Jim Cramer said on CNBC's Squawk on the Street yesterday. "Later on, they might release some stock as the lockup ends."
About 47.39 million shares of Square have been traded so far today, well above the company's average trading volume of roughly 11.51 million shares per day.
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