LONDON: Deliveroo shares rose today on the takeaway app’s first full trading day, in contrast to last week’s London stock market launch when they crashed after being snubbed by institutional investors.
“The start of unconditional trading in Deliveroo – recast as Flopperoo in some quarters after its disastrous market debut – at least hasn’t led to more pain for the business,” noted AJ Bell financial analyst Danni Hewson. But its IPO of 390 pence failed spectacularly, with the group losing 26% of its value on its first conditional trading day.
Source: News Formal (newsformal.com)
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