Sonos surges 32% in its trading debut

Sonos

• Sonos opened for trading at $16 on Thursday and surged by as much as 32%.
• It had priced its initial public offering at $15, below the expected range of $17 to $19.
• Sonos' IPO came as the California-based company seeks to build market share among voice-assistant-enabled smart speakers. 

Sonos shares opened for trading at $16 apiece on Thursday, gaining as much as 32% during the trading debut.

The smart-speaker company had priced its initial public offering at $15 per share on Thursday, below the expected range of $17 to $19, giving the company a valuation of about $1.5 billion.See the rest of the story at Business Insider

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