On a day where a company has IPOed, for it to be close to the IPO price on the close is a comparative failure. When you float a company your underwriters will g

On a day where a company has IPOed, for it to be close to the IPO price on the close is a comparative failure. When you float a company your underwriters will generally float at a price which is slightly under what's perceived to be the true value - this is mostly to ensure that the shares get sold (i.e. the VC firms and investors when the company was private get to make their profit from selling their shares), and because it generally ensures that the price will go up on the IPO which makes the company look better. Saying that +$0.23 in a day means $230 per 1000 days makes no sense at all. What happens on one day, especially when it's the IPO day, has no bearing at all on what will happen in the next trading day - or at least the open to close difference doesn't tell you anything, the volatility along with some other numbers (at my last firm we called them skew, mom and dad but they're all numbers which indicate the directionality of the vol surface) might give you some indications. My gut feeling, and this is based on the time I've spent in the financial world and especially with options traders, is that today was good for pre-IPO investors who wanted to sell out of their positions, but that any retail investors who bought in on the IPO are going to regret it in the medium term - not least of which because the balance sheet just doesn't support the market cap.