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Tough Time for Recent Tech IPOs
Recent sessions on Wall Street have been particularly tough for recent IPOS, including VMware (VMW), Switch and Data (SDXC), Rackspace (RAX) and DuPont Fabros Technology (DFT).
Rich Miller
October 16, 2008
1 Min Read
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Recent sessions on Wall Street have been particularly tough for data center companies who have gone public in the last several years, all of which are at all-time lows:
Shares of VMware dropped below $20 yesterday, closing at $19.97. VMW went public last August at $29 a share, and traded as high as $124 last fall.
Rackspace Hosting (RAX) starts the day at $5.75, less than half the $12.50 pricing of its Aug. 8 IPO. Rackspace was the only venture-backed IPO during the third quarter.
Switch and Data (SDXC), which went public in Feb. 2007 at $17 a share, has been particularly hard-hit in recent sessions and closed yesterday at $6.41 a share.
Stock of DuPont Fabros Technology (DFT) has slid to $7.07 a share. The data center REIT went public in Oct. 2007 at $21 a share.
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