Shares of Infinity Natural Resources (INR) surged over 11% in its trading debut on the New York Stock Exchange on Friday, amid a deregulatory push in the energy sector and robust investor demand for the oil and gas producer.
The company priced its initial public offering (IPO) at $20 per share, above the midpoint of its estimated range between $18 and $21, in a sign of healthy appetite for the stock. The strong pricing and first-day pop led Infinity Natural Resources to a valuation of around $1.3 billion.
The bullish investor sentiment towards Infinity Natural Resources can be attributed to the supportive regulatory environment under the Trump administration, which has been vocal about promoting domestic energy production. President Trump reiterated the "drill, baby, drill" slogan during his inaugural address, signaling a continued push for deregulation in the energy sector.
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