Etsy shares more than doubled in its first day of trading Thursday after pricing its IPO at $16 a share.
The stock opened at $31 and touched a high of $34.54 on the Nasdaq.
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The New York-based company’s IPO raised about $266.66 million at that price, the top end of its expected range of $14-$16 per share. Etsy, which had 1.4 million active sellers and 19.8 million active buyers as of December, also earns from its advertising platform, payment processing and shipping labels.
–Reuters contributed to this report.