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Cloud-based software firm Slack Technologies makes its debut on the New York Stock Exchange Thursday with a reference price of $26, adding to this year's parade of new Wall Street entrants.
Unlike two of the year's biggest names, Uber and Lyft, which held initial public offerings, Slack will undertake a direct listing.
Reference - Price - Price - IPO - Indication
A reference price is not the initial price, as in an IPO, but rather an indication given by the bourse before initial buy and sell orders that will actually determine the value.
The arrival of San Francisco-based Slack—which markets online tools for information sharing and workflow management—underscores investor hunger for new companies in spite of some high-profile stumbles.
Year - US - Markets - Track - IPO
Nearly halfway through the year, US markets are on track for one of the biggest IPO seasons ever in terms of money raised...
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