Warner Music Group stock closed up 20.48% from a $25 IPO price on Wednesday, its first day of trading.
The day added more than $2.5 billion to WMG’s valuation which now tops $15 billion.
The first trade for WMG stock was at $27.00 at 11:52 a.m. ET for 7.1 million shares. By the closing bell, the stock was at $30.12 USD up %5.12 or 20.48%.
The broader NASDAQ Composite Index was up just 0.78% for the day.
WMG was the biggest IPO of the year so far and had been priced within an expected trading range of $23 to $26.
