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00:00:00
good day for IPOs on Wall Street social media company Pinterest rose in its public debut Thursday it shares priced at nineteen dollars each opened at twenty three seventy five on the New York Stock Exchange a stronger performance came from fellow tech companies zoom of video conferencing service which soared some eighty percent opening at sixty five dollars a share on the nasdaq the IPO market which got off to a shaky start in twenty nineteen could be finding its footing says Reuters correspondent Josh Franklin there's a lot of expectations and that it was going to be kind of one of the biggest years ever for the tech IPO market with all these companies you know %HESITATION bird left Pinterest going public %HESITATION list was %HESITATION the first tech company really to to go public this year and after kind of looking at first like a like a big success a home run for lift it's really struggled in trading which kind of spooked %HESITATION spoke some people little bits of Pinterest is going to be an interesting interesting test of the market again Pinterest like lifted new Burr has yet to turn a profit it's two hundred and fifty million users are shy of Twitter's more than three hundred million and lag way behind the billion plus on Instagram and Facebook but many Pinterest bands are women looking to buy products something the company hopes will help spur ad sales the upside if your %HESITATION if your investor is you know you've got to to tap into a %HESITATION what they what people would hope is is a growth the company you know revenues of the company I think or sixty percent last year it's also it's an emerging company and it's kind of speaks a little bit to the steam about how consumer habits are changing in terms of how their their purchase saying and sourcing new new products and you know normally kind of Pinterest is perhaps no more associated with %HESITATION you know kind of wedding photos and and food and hair cuts and home decor and things like that and I think what they're hoping to try to move into is more things in financial services and media %HESITATION and kind of the auto industry as well the risks as with any social media company data privacy could be an issue as well as the brand simply cooling off the Biggie of this year's tech by , AJ uber could go public as soon as this month