Noodles & Co. staged its IPO on a sleepy, muggy, low-volume trading day.
The social network made a huge splash with its IPO today, rocketing above its initial share price.
The article that broke the news in The New York Times suggests that the deal may increase pressure on Facebook for an IPO.
Projected to go live in the third quarter of 2014, this will allow film projects essentially to IPO.
The stock opened trading at about $36, double the IPO price, and closed the first day at $39.86—a one-day gain of 121 percent.
Pincus, through a spokesman, declined to comment for this article, citing the SEC-mandated quiet period that precedes an IPO.
Paul A. Eisenstein on whether GM's IPO could release it from government's grip entirely.
Following the IPO, Pincus will own 12 percent of the company yet control 37 percent of the vote.
Its shares keep plummeting, falling to just over half the high reached on the day of the IPO.
Meanwhile, the finger-pointing and recriminations continue over the way the IPO was handled.