But much of the damage is already behind us. A Bad Year for Bonds : This has been the most devastating time for bonds since at least 1926 - and maybe in centuries.Our Coverage of the Investment World The decline of the stock and bond markets this year has been painful, and it remains difficult to predict what is in store for the future. The company’s fully diluted market capitalization now exceeds $18 billion. The shares ended the day up more than 72 percent, closing at $62. Shares in the company, which was last valued by private investors at $1 billion - the threshold for unicorn status among private start-ups - skyrocketed 80 percent in early trading.
Zoom, a videoconferencing company, also went public to tremendous investor demand on Thursday. More important to investors, the price put the company’s value above its last private valuation of $12 billion, avoiding a disappointing outcome. The company’s fully diluted market capitalization totaled over $16 billion, making it more valuable than Macy’s or Nordstrom, the retail chains. The company’s stock began trading at $23.75, above the initial public offering price of $19, and finished the day at $24.40. Shares in Pinterest, the digital pin board, jumped over 28 percent on its first day of trading as a public company. But Thursday indicated that investors remain eager to get a piece of them. SAN FRANCISCO - The rush of so-called unicorn start-ups toward the public markets had a rocky start.