NEW YORK (AP) — Shares of rooftop solar installer SolarCity are surging in their market debut after the offer priced well below its original expectations.
The stock is up $2.42, or 30.3 percent, to $10.42 in Thursday morning trading, after reaching as high as $10.60 earlier.
The San Mateo, Calif., company cut its expectations for the offer on Wednesday. It issued 11.5 million shares at $8 per share, for proceeds of $92 million. It had originally hoped to offer 10.1 million shares at $13 to $15 per share, with proceeds of $141 million.
SolarCity offers homeowners a "solar lease" that allows them to pay for the panels and electricity that they generate over time, often for less than it would cost to buy electricity from a local utility.
Father of Oregon Shooting Victim: We Will Not Be Attending Obama's Self Centered Gun Control Visit
Surprise! Whole milk may be good for you after all
White House brings out the human props to push #FightFor15 minimum wage propaganda - twitchy.com
Ted Cruz finds a question that the Sierra Club DARED not answer. | RedState
Not Welcome in Umpqua: Armed Protest May Greet President's Attempt to Exploit Tragedy - Bearing Arms - Barack Obama, Mass Shooting, Oregon, Umpqua Community College
- Vladimir Putin’s Russia Adopts Concealed Carry
The Problem Isn't Guns Or White Men | Human Events