Warner Hits Wall Street: Six Reasons Why WMG’s IPO Matters (Or Doesn’t)

Warner Music Group’s IPO, delayed by the coronavirus pandemic and overshadowed by nationwide protests, made a big splash on the Nasdaq stock exchange on Wednesday, rising over 20% from the IPO price and giving music a brief spotlight on Wall Street.
Warner’s owner, Access Industries, floated 70 million of 510 million shares outstanding at $25 per share. After being delayed by a market crash caused by the coronavirus pandemic, Warner had an excellent debut: Its shares opened at $27 an