real-time news and commentary for investors
Friday, Nov 16
2012, 10:05 AM
Ruckus Wireless (RKUS) has turned in a disappointing IPO. After pricing its 8.4M-share offering...
Ruckus Wireless (RKUS) has turned in a disappointing IPO. After pricing its 8.4M-share offering at $15, the high end of its range, shares opened exactly at $15 and have since slipped to $14.30, down 5%. That gives it a valuation of $1.06B. Ruckus' steep multiples could be giving investors pause, offsetting any enthusiasm regarding the carrier Wi-Fi equipment firm's strong growth rate. Ruckus had revenue of $152.5M (+93% Y/Y) over the first 9 months of 2012, and net income of $7.4M. (S-1)