MaxPoint dips on opening day
The provider of cloud-based marketing automation software services raised $74.8 mil, pricing its IPO of 6.5 mil shares at 11.50, the midpoint of its estimated range. But shares of MaxPoint Int'l (MXPT), which specializes in hyperlocal advertising that targets neighborhood shoppers with ads and promotions, fell in afternoon trading. The stock dropped 15.1% to 9.76.