/// On Opening Day, Fusion-io Rises 18 Percent
Utah-based data storage company Fusion-io rose 18 percent in its first day of trading on the New York Stock exchange, closing at $22.50 a share, having first traded at $25.30 . It priced at $19 a share yesterday, a dollar higher than its anticipated range of $16 to $18. The company raised about $234 million in the offering yesterday and the results left it with a market capitalization of about $1.3 billion. About 13.9 million shares changed hands. Steve Wozniak, the Apple founder who is now a Fusion-io director and its chief scientist, bought the first 100 shares. Fusion-io had better luck than Taomee Holdings, a Chinese children’s media company whose shares also debuted today. Having opened at $9 a share, it finished the day at $8.23, down more than 8 percent.
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On Opening Day, Fusion-io Rises 18 Percent