Deals
Fitbit Jumps in Trading Debut After Larger Than Expected IPO
FitBit Will Triple R&D Spending This Year, Park Says
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Fitbit Inc. surged in its trading debut, after heavy demand for the company’s initial public offering led it to boost the size of the deal.
The shares rose 48 percent to $29.68 in New York trading Thursday for a market value of $6 billion. Fitbit and some of its backers raised $732 million after selling the stock for $20 apiece.