'A validation moment:' Apptio shares spike 45 percent on first day of trading
Apptio shares closed up 40 percent Friday during the Bellevue IT management software company's much-anticipated first day of trading.
The 9-year-old company (Nasdaq: APTI) priced the IPO at $16 per share and stock prices immediately jumped 45 percent to around $24 per share. Apptio offered 6 million shares of common stock and options for underwriters on 900,000 additional shares.
'This is a validation moment,' Apptio CEO Sunny Gupta said. 'We are just really excited about taking this next...