Warner Music Group (NASDAQ: WMG) went public on Wednesday and began selling its stock at $25 a share on NASDAQ, the stock climbed 20% to $30.53 on yesterday closing. This is the largest initial public offering in the U.S. this year. The company had initially announced IPO plans in February before postponing them over the coronavirus pandemic, still considered a risk factor to the company’s business. The company sold 77 million shares and raised $1.925 billion via Initial public offering (IPO).
The Teleconferencing company Zoom video communications (NASDAQ: ZM) announced strong first-quarter financial results on Tuesday after market close. The California-based company beats Wall Street estimates with first-quarter revenue of $328.2 million, an increase of 169 per cent from last year.