Vocera stock falls in 1st day of trading on NYSE
NEW YORK (AP) — Shares of Vocera Communications Inc. dropped 5 percent in their first day of trading on the New York Stock Exchange.
As the broader markets fell slightly, the hospital mobile communications company's stock slid $1.14 to $22.86 by midday Wednesday. The shares had opened at $24, well above the $16 price tag the company attached to the approximately 5.9 million shares Tuesday evening.
Vocera earlier told the Securities & Exchange Commission it expected to price its initial public offering between $12 and $14 per share.
In 2011, the San Jose, Calif. company lost $2.5 million. In 2010, it reported a profit of $1.2 million.
Vocera is trading under the "VCRA" ticker symbol. The company's IPO was one of three Wednesday.
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