SolarCity (NASDAQ:SCTY) debuted on the public markets today.
Earlier this week, it lowered the opening share price to $8 from the original $13-$15 range and trading so far has been at $10.49.
Because of this change, the IPO raised $92 million, much less than the original goal of $150 million.
SolarCity’s market value is currently $585 million, about 4.7 times sales for the past 12 months, compared with multiples of less than 1 for publicly traded peers.
Read our background on the IPO and on SolarCity’s positioning and prospects:
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