MeridianLink stock opens slightly above IPO price, then falls below
MeridianLink Inc. (MLNK) stumbled out of the gate Wednesday, as the California-based software solutions for financial institutions provider's stock opened 1.9% above its initial public offering price, then fell below it. The company said overnight that the upsized IPO priced at $26 a share (http://www.marketwatch.com/story/meridianlink-ipo-prices-at-top-of-expected-range-valuing-company-at-more-than-2-billion-2021-07-28), at the top of the expected range. The stock's first trade was at $26.50 at 11:02 a.m. Eastern for about 596,400 shares. At that price, the company was valued at about $2.15 billion. Since the open, the stock has traded in a range of $26.84 to $25.19, and was last down 0.7% a $25.83. The downbeat trading in the stock comes on an otherwise upbeat day for IPO stocks, as the
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 28, 2021 11:20 ET (15:20 GMT)
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