NEW YORK (TheStreet) -- Weibo (WB), the Chinese social media company that has been described as the country's equivalent to Twitter (TWTR), rose on Thursday, its first day of trading after its IPO.
The company raised $286 million by pricing its initial public offering of 16.8 million shares, 16% fewer than expected, at $17 a share. That price was at the low end of the expected $17 to $19 range.
The stock opened at $16.27 at noon, but quickly recovered and rose more than 10% to a high of $19.46 as of 12:25 p.m., by which point more than 12 million shares had changed hands.
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WB data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Stock quotes in this article: WB, TWTR
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