Trulia Flies High but Could Fall Hard

Trulia, an online real estate listing company, hit it out of the park Thursday in its first day of trading on the New York Stock Exchange. The stock priced at $17 per share and then opened at $22.10. It rose an eye-popping 48 percent to reach $25.20 per share at one point before settling in at $24 per share at the market’s close. It is almost enough to make one forget about the dismal track record of other recent tech IPOs — such as Zynga and, of course, Facebook — except that Trulia is not really a tech stock, for all its reliance on technology.

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Trulia Flies High but Could Fall Hard

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