- Shares of Pinterest Inc surged almost 30 percent in their stock market debut on Thursday, valuing the online scrapbook company at around $16 billion and signaling investor appetite for new tech listings.
Zoom Video Communications Inc shares also surged in the U.S. video conferencing company’s first day of trading on Thursday, closing 72 percent above their IPO price of $36. Investors are hopeful that money-losing Pinterest, the most high-profile social media company to list in the United States since Snap Inc in 2017, will have a strong run in the market, given the company’s ability to grow revenue and increase its user base.
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