Topline
Shares of automated marketing firm Klaviyo closed below their initial public offering price for the first time in the stock’s brief history, becoming the latest high-profile IPO to fall flat in an unfortunate sign for the newly reactivated market.
Key Facts
Klaviyo stock dipped more than 4% to $29.03, trading below its $30 IPO price and far short of its intraday high of $39.47 notched during its New York Stock Exchange entrance on September 20.
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