Deals
Retailer Wish Drops in Trading Debut After IPO Spree
- E-commerce firm’s value sinks to $14 billion fully diluted
- Wish’s drop follows huge gains last week by DoorDash, Airbnb
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Online retailer Wish fell 16% in its trading debut Wednesday, in a more muted start to life as a public company than for DoorDash Inc. and Airbnb Inc. last week.
Shares of Wish opened at $22.75 apiece, below the $24 they were sold for in its $1.1 billion initial public offering. The shares closed at $20.05, giving the company a value of at roughly $14 billion on a fully diluted basis, which includes options and restricted stock units as well as the outstanding shares listed in its filings.