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Details on Industry Insight.
Skullcandy’s stock closed flat in its first day of trading on the Nasdaq stock exchange after reaching $23.40 at one point during the day.
Its IPO price was $20, which is the price the stock eventually closed at in its debut when all the trades were settled.
Skullcandy CEO Jeremy Andrus made brief comments during the closing bell ceremony. I watched a live video feed of the event.
“Let’s hear it for Skullcandy, come on!” he said. “Are you kidding me? How great is this moment?”
Jeremy said he and CFO Mitch Edwards pitched about 200 investors during the company’s roadshow, and that it was exciting to see their reaction – that Skullcandy is building something special, he said.
But Jeremy stressed Skullcandy is not satisfied with where they are, that there is more work ahead, and that the company needs to continue to innovate.
Jeremy also specifically thanked former CEO and Founder Rick Alden, and said Skullcandy wouldn’t be where it was today without his vision and leadership.
Online real estate site Zillow, which also debuted on Nasdaq today with its IPO priced at $20, closed at $35.77.