t was thumbs-up for digitally-native, mission-driven jewelry brand Brilliant Earth (NASDAQ NDAQ -0.5%: BRLT) on its first day of public trading. The stock value blew past its opening price of $12 per share to close at $17.16, a 43% rise.
Taking a cautious turn right before its NASDAQ debut, Brilliant Earth reduced its original $14 to $16 per share price range and halved its plans to sell some 16.7 million shares to 8.3 million. But by mid-afternoon, it topped $16 per share to reach a day’s high of $18.23. By end of day, nearly 8 million shares were sold.
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