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Virgin America shares soar on first day of trading
Virgin America shares soar on first day of trading

Virgin America Inc. shares soared in their first day of trading Friday as investors flocked to the airline's strategy of combining low-cost fares with hipster cachet. Priced at $23 each, shares in the Burlingame, Calif.-based airline, backed by celebrity entrepreneur Richard Branson, jumped about 25% to more than $29 on Nasdaq. The stock price values the company at about $1.27 billion. Trading under the stock symbol VA, Virgin America raised about $305 million from the IPO. The company said it intends to use the cash to push for more market share and new routes, possibly including flights to and from Hawaii. The airline, with its fleet of 53 planes based out of San Francisco and...

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