Memorial Resource Development (MRD) Stock Surges on First Day After APO

NEW YORK (TheStreet) -- Memorial Resource Development  (MRD) surged Friday, its first day of trading after its IPO.

The shale-gas driller priced its initial public offering of 42.8 million shares at $19 a share, the high end of the expected range of $16 to $19. The company upsized its offering from 36 million shares.

The stock opened at $21.56 and hit a high of $22.21 as of 11:11 a.m., by which point more than 14.2 million shares had changed hands.

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MRD Price Chart

MRD Price data by YCharts

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