Shares of enterprise software vendor Splunk (SPLK) are up $15.04, or almost 90%, at $32.01 in their first hour of trading after the stock priced at $17 this morning and opened at at exactly $32.
Splunk, based in San Francisco, develops software tools that could be lumped into the ultra-hot software segment of “analytics,” allowing companies to divine patterns in mountains of data coming out of traditional databases, in real time.
The company claims 3,700 clients as of the time of its most recently updated prospectus., including Bank of America, Autodesk�(ADSK),�Zynga (ZNGA), and Harvard University.
The company lost $11 million on revenue of $121 million in the fiscal year that ended in January. The company was founded in 2003 but pursued mostly R&D work until it introduced commercial software in 2005.
Interestingly enough, the NYSE said shortly after trading began that it would cancel a whole batch of trades after the stock broke a circuit breaker.
Trades between 11:20 and 11:25, specifically, are withdrawn by NYSE, according to a report by Dow Jones Newswires’s Jacob Bunge and Chris Dieterich.
Update: Splunk shares closed the day up $18.48, or almost 109%, and were up almost another 1% in after-hours trading.
No comments:
Post a Comment