Thursday, November 2, 2017

Funko Sees Precipitous Drop In Price After IPO

Everett, Washington-based toy maker Funko has its IPO on Thursday, raising $125M--but saw a surprising plummet in its shares after its debut. Funko, which priced at $12.00 on Wednesday night, closed Thursday on its first day as a public company down $4.93 at $7.07. The company had traded as low as $6.95 in trading, and opened at only $8.00 per share. Funko now trades on the Nasdaq Global Select Market as FNKO. Funko had already priced between an earlier, estimated IPO pricing of $14.00 to $16.00 per share.