8. Storage IPOs: The Good And The Bad
It was the best of both worlds for storage IPOs in 2013.
Nimble Storage in December had one of the best IPOs in any industry in 2013. It priced its shares at $21, raising $168 million to give the company a valuation of $2.2 billion. However, its share price jumped to over $31 on opening day, and $35 the next business day.
Barracuda Networks also had a successful IPO, gaining $100 million on its opening day and watching its share prices continue to grow.
Contrast those with Violin Memory, which in September priced its IPO at $9 per share, only to see first-day prices slip to about $7. By mid-December, shares of Violin Memory were as low as $2.56. However, prices recovered somewhat after Violin Memory fired its CEO, Don Basile.