Zillow and Skullcandy IPOs Take Off
What do a real estate company and a headphone manufacturer have in common? For one thing, both Zillow (NASDAQ:Z), and Skullcandy (NASDAQ:SKUL) went public today on the Nasdaq (NASDAQ:NDAQ). For another, they’re both trading well above their initial share prices.
Zillow (NASDAQ:Z) is an online real estate service providing information on home sales, rent, mortgages and values. Zillow opened with an initial public offering of $20 a share, and the stock has already climbed to $38.69 a share, an increase of 93.45% in less than one full day of trading.
Don’t Miss: Bubble or Not? A Look at This Year’s Tech IPOs.
Skullcandy (NASDAQ:SKUL) makes popular earbuds and headphones in various styles, backed by a lifetime warranty. Skullcandy hasn’t had quite the reception Zillow has had, but shares are still up 1.65% above its starting price of $20 a share, and climbed as high as $23.40 this morning before taking a dip in the afternoon, as did Zillow, which rocketed up to $60 a share before investors in the initial price began to sell off for a 200% profit.