Davids Tea debuts up 33% on Nasdaq after IPO

Shares in Montreal-based chain Davids Tea rose 33 per cent today, the first day of trading for the company after an IPO. The shares, trading under the ticker symbol DTEA on the Nasdaq, were priced late Thursday at $19 US a share, $1 above the high end of the company's estimate of between $17 and $18 a share. Late in the morning Friday, Davids Tea shares were changing hands for more than $25 a share, up by more than a third from the IPO price.