dave

dave

West Hollywood-based banking app Dave made its much-hyped debut as a publicly traded company on the Nasdaq stock exchange on Thursday.

Shares in Dave (ticker: DAVE) opened trading at $8.27, giving the company a market capitalization of roughly $3 billion. After swooning close to $7 per share, Dave’s stock rebounded above the $9 mark before closing the day at $8.53.

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Los Angeles-based banking app Dave is poised to debut as a publicly traded company via a SPAC deal this week, and has plans to use some of the proceeds to wade into the crypto waters.

Dave, which is valued at $4 billion and backed by famed investor Mark Cuban, anticipates closing its merger with blank-check firm VPC Impact Acquisition Holdings III this Wednesday. If all goes according to plan, it will begin trading on the Nasdaq stock exchange on Thursday.

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Dave, the Los Angeles banking app that launched a debit card with no monthly fees, is going public through a so-called blank-check company, the startup announced Monday.

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