GoDaddy stock soars 30% after $460M IPO

GoDaddy stock soared 30 per cent in its trading debut on Wall Street Wednesday, in a listing that raised $460 million US. The internet domain name and hosting firm priced its shares at $20 US, but the stock commenced trading at $26.15 a share on Wednesday on the Nasdaq stock exchange. The Scottsdale, Arizona-based company is 18 years old, but has posted losses for the last six years. GoDaddy wooed investors with a pitch involving building on its customer base of small businesses websites.