Smart speaker maker Sonos popped as much as 15 percent, then settled to modest gains Friday, a day after its stock market debut.
The stock got off to a slow start Thursday, opening just 7 percent higher than its lower-than-expected initial price. But shares gained more than 30 percent by the end of trading day and rose as high as $23.60 in the first half hour of trading Friday.
The stock ended trading Friday just 5 percent up.
The company makes high-end, web-connected speakers for audiophiles and music fans. It’s expanding into the smart speaker space through partnerships with Amazon and Google.
The company’s IPO follows a number of high-profile offerings in the first half of 2018. Cloud storage provider Dropbox and software company DocuSign spiked on their opening trades.
Originally published at CNBC