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Fitbit is surging

Akin Oyedele
fitbit ipo james park
fitbit ipo james park

(Lucas Jackson/Reuters) James Park, Fitbit CEO, applauds with co-founder and CTO Erid Friedman while ringing the opening bell.

Fitbit shares rallied as much as 14% on Friday, one day after its blockbuster IPO.

Shares climbed to as high as $33.25 in trading, after opening up 52% on Thursday.

The stock closed up 11% at $32.50.

The maker of fitness trackers pegged its IPO price at $20 per share. It initially had a range of $14 - $16, but raised the range to $17 - $19, as well as the number of shares outstanding, after investors showed strong demand.

At a stock price of $33 per share, Fitbit is valued at nearly $7 billion.

WERBUNG

The stock is now up more than 60% from the IPO price.

Here's a chart showing the last two days of trading:

Screen Shot 2015 06 19 at 4.19.23 PM
Screen Shot 2015 06 19 at 4.19.23 PM

(Yahoo Finance)

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