Wealthfront IPO: Stock price closely watched today as financial platform starts trading on the Nasdaq

Wealthfront Corporation is looking to rake in the wealth after going public on Friday.

The Palo Alto-based automated digital wealth platform raised $486 million after selling 43.6 million shares, putting the company’s valuation at roughly $2 billion.

Wealthfront shares began trading on the Nasdaq under the ticker “WLTH.” The company made more than 34.6 million shares of common stock available for the IPO for $14—an offering that expires on Monday, December 15.

The stock was up around 4% by mid-afternoon on Friday afternoon after trading began.

To mark the occasion, the company’s leadership—including CEO David Fortunato, cofounder and chairman Andy Rachleff, and cofounder Dan Carroll—rang the opening bell at Nasdaq MarketSite in Times Square.

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