VMware Shares Drop Below IPO Price

Amid the excitement of VMworld 2008, shares of VMware (VMW) fall below the company's $29 IPO price from last August.

What a difference a year makes. The VMworld 2007 show generated excitement about the future of virtualization, prompting investors to bid up the price of the newly-public VMware (VMW). By November 2007, the company's stock was trading at $124 a share.

Today marked the first day that VMware shares have fallen below their IPO price of $29. This afternoon VMW is down $5.00 at $26.98 a share, a one-day drop of 16 percent. It's clearly not alone, as the current turmoil on Wall Street is battering many companies. It's a sobering reminder that the technologies showcased at VMworld 2008 will be marketed and deployed in a tough market in which long-held assumptions can change overnight.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish