CarGurus IPO Soars, Sets Expansion For Online Auto Marketplace

Online auto broker CarGurus (CARG) turned in a hot initial public offering that priced above its estimated range and soared 81% at the start of trading Thursday.

XAutoplay: On | OffThe IPO raised $150 million and set the stage for an expansion of its web-based marketplace for buyers and sellers of new and used cars.

CarGurus, late Wednesday, priced 9.4 million shares at 16, above the estimated range of 13 to 15. Shares began trading at 29 for an 81% gain on the stock market today, under...

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