Hinge Health, MNTN Shares Soar In NYSE Debut

Shares of California-based Hinge Health, Inc. (HNGE) jumped 19% above its initial public offering price on Thursday in its debut on the New York Stock Exchange (NYSE).

Shares of the company, which leverages software to automate care for joint and muscle health, opened at $39.2 before paring back some gains.

Hinge said on Wednesday that the company and some of its selling stockholders sold 13.67 million shares of its common stock at an initial public offering price of $32 to raise about $437.3 million.  

Hinge Health was founded in 2014 by Daniel Perez and Gabriel Mecklenburg and is backed by venture capital firm Insight Partners. It announced its intent to go public in March.

The firm made revenue of $123.8 million in the first quarter and net income of $17.1 million.

A Stocktwits user opined that the stock might be “worth watching.”

Connected TV advertising platform MNTN (MNTN), of which actor Ryan Reynolds is Chief Creative Director, also debuted on the NYSE on Thursday. Shares of the Austin-based company opened at $21, up 31% from its IPO price of $16.

Blackrock-backed MNTN had reportedly put its IPO ambitions on hold in early April after President Donald Trump’s tariffs stirred up market turmoil.

However, the recently announced 90-truce between China and the U.S, which resulted in significantly reduced tariffs on imports, has rekindled market confidence.

Last week, Israeli multi-asset investment and social trading company eToro (ETOR) debuted on Nasdaq and opened at $69.69, up from its IPO price of $52.

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