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The Best (And Worst) Technology Company Stocks In The Third Quarter Of 2019

Of the 44 technology companies on our watch list, 21 recorded gains in the price of their publicly traded shares during the third quarter of 2019 and 23 recorded price declines – a couple by significant double-digit percentages. Take a look at who were the winners and who were the losers.

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CEO: Steve Munford

June 28, 2019 Close: $26.04

Sept. 30, 2019 Close: $15.49

Change: -40.51%

On July 25, CEO Mohamad Ali stepped down to take a job with IDG after leading Carbonite for four-and-a-half years. Chairman Steve Munford was named interim CEO.

On Sept. 4, the company named a new chief operating officer, new chief technology officer and new chief product officer, even as it searches for a permanent CEO.

Carbonite’s stock rose 20 percent on Sept. 9 when reports surfaced that a private equity company was interested in buying the company.

For the first six months (ended June 30) of 2019, Carbonite reported revenue of $202.7 million, up 43 percent from $141.8 million in the first half of 2018. But the company reported a $9.3 million net loss for the six-month period compared to net income of $6.3 million for the first half of 2018.

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