Box Opens At $20.20, A 44% Pop
Box
Its IPO was priced at $14.
It's now up 52%, to $21.44.
It's a nice pop for a company that had a lot of negativity surrounding its IPO.
Box's revenue growth has been slowing down. In the third quarter of 2014, revenue was up 70%. But that's down from 81% in the prior quarter. And that's down from 94% in the quarter prior to that.
On the plus side, Box has gotten its sales and marketing expenses under control. Those expenses were only $55 million during the quarter, less than the $57 million in revenue. Overall net loss was $45 million for the third quarter last year.
On the day before the IPO, Box got a big endorsement from Jim Cramer who argued the stock was worth buying at $18 or less.
We'll be keeping an eye on the stock all day, and will update this post.
- AI Express cancels 75 flights on Friday, expects normal ops by Sunday: Official
- Luxury homes soar to 21 per cent market share; Affordable housing declines to 20 per cent in 5 years
- India poised to become world's third largest consumer market by 2026 outpacing Germany, Japan
- IPL's impact player rule implemented as test case, can be revisited: Jay Shah
- Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market