Apr 23, 2012
Splunk IPO Soars
Written under: Business, Technology
Recent initial public offerings in the stock market under the technology industry has involved gaming and social media companies as of late.
That’s why when Splunk, an enterprise software company, braved their IPO, it’s no surprise that their price shares soared up.
It’s like buying Golden Eagle gold bars – as described by some investors.
The firm, based in San Francisco, went public on Thursday with a $229.5 million offering priced at $17 a share, well above its expected range of $11 to $13 a share. It nearly doubled at its opening to $32 a share. The stock closed at $35.48, valuing the start-up at $3.28 billion.