Beverly Hills 3D systems company RealD Inc. had a big opening today on the stock market in the premiere of its initial public offering late Thursday.
The stock, which opened at $16 on the New York Stock Exchange under the symbol RLD, closed Friday at $19.51, up nearly 22%. TThe price spiked as high as $21 when trading began and sold 12.5 million shares, 1.75 million more than expected, at a price above the range of $13 to $15 it had set.
The seven-year-old RealD is the dominant player in theatrical 3D systems, especially in the U.S., and is licensing its technology for 3D in the home as well as military and academic applications.
The company has yet to turn a profit and had an operating loss of $39.7 million on net revenue of $150 million in the year ended March 26.
— By Scott Hettrick