Hot on the heels of the FXCM IPO, Gain Capital’s initial public offering of stock started trading on Wednesday.
However the market has changed in the two weeks since FXCM’s float. Its shares were priced at $14 and they initially traded as high as $15.34 before slipping back to $12.70 now.
Gain’s share price was set at $9 and settled at $8.85 after the first day, giving a market capitalization of $275 million.