Dropbox is soaring to cap off a big first week of trading

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Markets Insider

  • DropBox shares are soaring Thursday, up more than 7% at $33.32 apiece.
  • Shares debuted Friday at $21 .
  • Watch DropBox trade in real time here.

Shares of Dropbox gained as much as 9% Thursday, capping off a big first week of trading for cloud-storage company. Shares hit a high of $34.37, bringing the company’s market cap to more than $13 billion.

During last Friday’s debut, shares popped from their initial price of $21 to as high as $31 on the first day of trading. Shares drifted between $28 and $31 in the early part of this week before surging to fresh highs on Thursday.

The company’s initial public offering was the latest in what looks to be a hot year for tech companies going public. Spotify is expected to do a direct public listing Tuesday, and Smartsheet filed for its IPO on Monday.

DropBox shares are up 58.8% from Friday’s debut price of $21.