Artificial heart developer Picard Medical rises on public debut

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IPO stands for Initial Public Offering, which is a company"s fundraising by issuing and offering shares to the public for businesses that want to enter the stock market for growth opportunities and long-term funding from investors.

Shares of Picard Medical (NYSE:PMI) climbed more than 50% when the Tucson, Arizona-based artificial heart developer began trading as a public company on Friday following an IPO priced at $4.00 per share.

The listing on the NYSE American opened at $4.21 per

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