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Rubrik’s shares end trading up almost 16% on the company’s public debut
Rubrik sees modest gains as the cybersecurity company starts trading on the NYSE.
The cybersecurity company priced it shares at $32 apiece Wednesday night, just a hair over its initial target range of $29 to $31 after raising $752 million. Subscription revenue tends to be sticky, and growth there could explain why some investors are more confident about the future prospects of Rubrik despite its current losses and lack of profitability. Rubrik is the fourth venture-backed company to go public in recent months as investors seem eager to reopen the IPO market.
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