Retailer Wish Falls in 2020’s Worst Debut for Big U.S. IPO (4)

Online retailer Wish fell 16% in its trading debut Wednesday, in a more muted start to life as a public company than for DoorDash Inc. and Airbnb Inc. last week.

Shares of Wish opened at $22.75 apiece, below the $24 they were sold for in its $1.1 billion initial public offering. The shares closed at $20.05, giving the company a value of at roughly $14 billion on a fully diluted basis, which includes options and restricted stock units as well as the outstanding shares listed in its filings.

Wish CEO Piotr Szulczewski says the company is focused on long-term growth.

Source: Bloomberg)

Wish, the 31st on a U.S. exchange to exceed $1 billion ...