Shares of Nutanix
were trading at $27.30 Friday morning, above the company's $16 issue price, in the stock's debut on the Nasdaq. Nutanix, an enterprise cloud platform company, sold 14.9 million shares at an issue price of $16 to raise about $238 million. The lead underwriters on the offering were Goldman, Sachs & Co. and Morgan Stanley Co. LLC.
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In almost every walk of life, people buy more at lower prices; in the stock market they seem to buy more at higher prices.