Home security company ADT made its NYSE debut. After pricing at $14 a share, the stock opened for trading at $12.65. Tim Whall, CEO at ADT, joined us on set to explain why investors should be excited about the opportunity to invest in ADT.
The original range for pricing of the IPO was $17-$19 a share. Despite the weaker-than-expected demand for the stock, the company still raised about $1.5 billion. The CEO said ADT will use the money to pay down debt and grow subscriber base. ADT has a debt burden of about $10 billion.
In a regulatory filing, ADT revealed it had been losing customers. Whall shares how the company is innovating in-home security in order to avoid customer churn and attract new consumers. The company recently announced plans to integrate its products with Google Assistant voice controls sometime this spring.
Threads could bring in $8 billion in annual revenue, according to analysis, after it reached about 100 million users days after its launch. Cheddar News explains.
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We hit the streets of New York City to ask: is money something you talk about with friends and family?
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The cost of the first-class “forever” stamps has jumped from 63 to 66 cents.
