The shares of cybersecurity company FireEye Inc leapt 80 percent in their trading debut on Friday in a sign of how red hot cybersecurity is on Wall Street at the moment, and even inspired at least one peer to accelerate plans to go public.
FireEye, whose debut ranks as the sixth biggest first-day close in the United States this year, is the latest in a string of successful public offerings from technology companies.
However, its valuation might raise some eyebrows among investors who(once again) still recall the dotcom bubble, when unprofitable companies launched with outsized growth expectations.
FireEye and ad technology company Rocket Fuel Inc, which also went public on Friday and whose shares have nearly doubled in value, are helping to set the stage for other high profile technology offerings later this year and in 2014. These include Twitter, Box and Dropbox.
Source: Reuters
