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(Compass/Instagram)
With the push of a button, Robert Reffkin and Ori Allon rang the opening bell of the New York Stock Exchange on Thursday morning, kicking off trading on Compass’ first day as a public company.
The co-founders, grinning and clapping, slung their arms around each other and bumped fists to mark the occasion.
Late Wednesday, Compass priced its stock at $18 per share, 30 percent lower than it initially targeted.
Compass’ IPO has been one of the most-closely watched in the brokerage industry not to mention the subject of intense speculation, brokerage gossip and palace intrigue. The stock price will reveal whether public-market investors believe it’s a tech company, brokerage or both.