Reuters: Hot Stocks: Shares of SolarCity up 16 percent in market debut

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Shares of SolarCity up 16 percent in market debut Dec 13th 2012, 16:26 Thu Dec 13, 2012 11:26am EST Dec 13 (Reuters) - Shares of SolarCity Corp jumped 16 percent during their market debut on Thursday, after the company slashed its IPO price. The top U.S. installer of residential solar systems opened Nasdaq trading at $9.25. The San Mateo, California-based company backed by technology entrepreneur Elon Musk sold 11.5 million shares at $8, raising $92 million. It initially had planned to sell 10.1 million shares between $13 and $15 per share. (Reporting By Olivia Oran; Editing by Gerald E. McCormick)

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