Olo Inc. [NYSE: OLO] price plunged by -10.96 percent to reach at -$3.25. The company report on March 20, 2021 that Olo Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares.
Olo Inc. (NYSE: OLO) announced the closing of its initial public offering of 20,700,000 shares of its Class A common stock at a price to the public of $25.00 per share, including the full exercise by the underwriters of their option to purchase up to an additional 2,700,000 shares of Class A common stock.
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Goldman Sachs & Co. LLC and J.P. Morgan acted as lead book-running managers for the offering. RBC Capital Markets acted as book-running manager for the offering, and Piper Sandler & Co., Stifel, Nicolaus & Company, Incorporated, Truist Securities, Inc., and William Blair & Company, L.L.C. acted as co-managers for the offering.
A sum of 3666041 shares traded at recent session while its average daily volume was at 2.68M shares. Olo Inc. shares reached a high of $28.86 and dropped to a low of $25.50 until finishing in the latest session at $26.39.
Guru’s Opinion on Olo Inc. [OLO]:
The Average True Range (ATR) for Olo Inc. is set at 2.82, with the Price to Sales ratio for OLO stock in the period of the last 12 months amounting to 37.46.
OLO Stock Performance Analysis:
Olo Inc. [OLO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.89.