Shares of Amplitude popped significantly above their $35 reference price today after the software company made its public debut through a direct listing, MarketWatch reports.
Amplitude shares opened at $50, 43% above the reference price set by the Nasdaq, and then headed higher from there to a recent $54.17. Because the company didn’t hold a traditional IPO, it didn’t raise money in the process of going public.
Chief Executive Spenser Skates called traditional IPOs “antiquated” in an interview with MarketWatch. Read more.
