Jan. 5 (UPI) -- Versant Media, the independent media company spun off by Comcast, rang the Nasdaq opening bell on Friday for its introduction to the market.
Versant made its debut on the Nasdaq under the ticker symbol "VSNT," opening at $45.17 per share, CNBC reported.
The company's when-issued stock began trading on Dec. 15 at $55 per share and ended trading Friday at $46.65 per share. Versant shares by mid-morning had fallen to about $40 per share, down 14% on the day.
Versant comprises several media holdings, including CNBC, MS Now, Rotten Tomatoes, the Gold Channel, Oxygen and SYFY.
"Today marks a defining moment as Versant becomes an independent, publicly traded media company," said CEO Mark Lazarus in a statement. "As a standalone company, we enter the market with the scale, strategy and leadership to grow and evolve our business model."
