Shares of insurance startup Root fall nearly 4% in Nasdaq debut

Shares of automobile insurance startup Root Inc fell nearly 4% in their market debut on Wednesday, marking a weak open for the firm after it raised about $724 million in its initial public offering.

Oct 28 (Reuters) - Shares of automobile insurance startup Root Inc ROOT.Ofell nearly 4% in their market debut on Wednesday, marking a weak open for the firm after it raised about $724 million in its initial public offering.

The stock opened at $26, compared to its IPO price of $27 per share.

(Reporting by Ambar Warrick in Bengaluru; Editing by Ramakrishnan M. And Maju Samuel)

((Ambar.Warrick@thomsonreuters.com; +91-80-6182-2837; Reuters Messaging: ambar.warrick.thomsonreuters.com@reuters.net; Twitter: @AmbarWarrick))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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