On this episode of Stock Movers:
- Hinge Health (HNGE) shares rose 17% after the digital physical therapy provider and a group of investors raised $437 million in an initial public offering priced at the top of a marketed range. Shares in the San Francisco-based company closed at $37.56 each on Thursday in New York, versus the IPO price of $32 apiece. The level at the close gives Hinge Health a market value of about $2.9 billion based on the outstanding shares listed in its filings, not including preferred stock that could convert to common shares. It has a fully diluted value of about $3.4 billion when taking employee options and restricted share units into account.
- MNTN Inc. (MNTN) shares climbed 65% after the company and some of its shareholders raised $187 million in an initial public offering. Shares in the Austin-based company closed at $26.36 each on Thursday in New York, above the IPO price of $16 per share, the top of the marketed range. Trading was briefly halted for volatility after the open. The trading gives MNTN a market value of $2 billion based on the outstanding shares listed in its filings. Accounting for employee stock options and restricted stock units, the company has a fully diluted value of about $2.7 billion.
- United Airlines (UAL) shares are up after Chief Executive Officer Scott Kirby told shareholders that the carrier is seeing “at least a stable revenue and booking environment” heading into the Memorial Day weekend and start of the summer travel season. Kirby’s comments at the airline’s annual shareholder meeting excluded the impact of flight disruptions and air traffic control problems at the airline’s hub in Newark.
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