Fitbit Spikes More Than 50% In IPO Debut

Fitbit went public this morning, soaring more than 50 percent at one moment. The wearables firm priced its equity at $20 per share. Early trading saw the shares crest the $30 mark.

At the time of writing, Fitibit is currently trading for $29.60, a 48 percent gain. Regardless, the company is having the sort of debut that most startups dream of. It’s worth keeping in mind that Fitbit originally proposed a $14 to $16 share price for its flotation. As such, it’s even further ahead than some perhaps expected.

This chart is the porn you were looking for:
Screen Shot 2015-06-18 at 7.53.01 AM

Originally, Fitbit filed for a $100 million public offering. That figure — often a placeholder — rose to $358 million, using its original share pricing. The company raised even more today. In short, whatever Fitbit had planned for that money it can do, and more.

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