Angie's List Stock Soars in First Trading Day
Freshly public shares of consumer review site Angie's List are trading sharply higher, showing ongoing investor appetite for Internet companies.
Angie's List Inc. runs reviews of dentists, doctors, veterinarians, gardeners, plumbers and other businesses offering local services. It charges users a monthly fee to access the reviews.
On Wednesday, Angie's List priced its offering of 8.8 million shares at $13 each. This was at the top of the range it had expected. It follows big IPOs by LinkedIn Corp. and Groupon Inc. earlier this year. And it precedes the public debut of online game company Zynga Inc., which is expected before the end of the year.
The stock was last up $3.26, or 25 percent, to $16.26 on Thursday.