Anyone proclaiming it was a 50% pop is misleading. The opening price was around $39 so it essentially finished flat for the day. The “reference price” is meani

Anyone proclaiming it was a 50% pop is misleading. The opening price was around $39 so it essentially finished flat for the day. The “reference price” is meaningless because it meant absolutely nothing. It wasnt the price it opened at. So why should we base the % change from that imaginary price. And this is was a direct listing so not even an underwriter got a 50% pop. The media just wants to make things sound more impressive than it really are.