When Internet security solutions provider SecureWorks began officially trading on Nasdaq this morning, it was notable for two reasons. Not only was it the market makers first technology IPO of the year, it was just the 15th trading launch at the market maker for the year.
In previous years, Nasdaq had scores on IPOS – 2014 was a highpoint with 189 IPOs – but the recent wave of market volatility at the beginning of the year and the subsequent fears that flooded the market have driven down the desire to launch trading in uncertain markets.
According to Dow Jones Newswire, this mornings IPO went smoothly — and did not experience the technical glitches that plagued the launch of the Facebook IPO of 2012.
After initially opening below their IPO price, the shares rebounded, recently trading up 1.8% at $14.25 on the Nasdaq exchange under the symbol SCWX.
The cybersecurity arm of Dell Inc. priced its IPO below expectations Thursday, at $14 a share, raising $112 million through the sale of 8 million shares. It had targeted a sale of 9 million shares at $15.50 to $17.50 each.
Traders will predent images from the SecureWorks IPO next week.
