2 Blowout IPOs Have the Nasdaq Smiling Thursday
Many investors just think of the Nasdaq as a market benchmark, as the Nasdaq Composite (NASDAQINDEX: ^IXIC) is one of the most popular indexes on Wall Street. That index gained ground on Thursday afternoon, climbing about a third of a percent as of 2:30 p.m. EST.
But the Nasdaq is also a stock exchange, and there's always friendly competition between it and the New York Stock Exchange to get the best new companies to list their shares. When hot IPOs go with one exchange over the other, it's a nice reputational win. On Thursday, the tally was solidly in the Nasdaq's favor, with both Poshmark (NASDAQ: POSH) and Petco Health & Wellness (NASDAQ: WOOF) opting for it over the NYSE and jumping out to big first-day gains.
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Source Fool.com
