![]() ![]() That Dropbox is now worth less than its IPO price is likely immaterial for the company, which generates cash and thus doesn’t need to raise external capital. Since its initial public offering (IPO) in 2018, the stock is down over 10, while the S&P 500. I’ll leave this here, as I wanted merely to mark a moment I’ve been tracking for a while. Dropbox (NASDAQ: DBX) has been a huge disappointment for shareholders since going public in 2018. That is a healthy figure, but one that is beneath both its highest private-market valuation ( over $10 billion, set back in 2014) and its peak value as a public firm.ĭropbox has shed over 50 percent of its value, compared to its 52 week high. Today, the company is worth $8.3 billion according to Yahoo Finance. Seeing the values of tech shares fall after their dramatic run in recent years is not surprising when growth begins to fade in the expectations of many, companies priced on high levels of expected growth will get dinged.īut for Dropbox, the decline is notable all the same. Political instability, rising trade tensions, war, and other crises exist around the world, adding to economic concerns in Europe, Asia, and South America. The recent market turmoil in tech is not an isolated result. In simpler numbers, the Nasdaq broached the 8,000 level before falling under 6,600 today. Cloud storage giant Dropbox has revealed more details about its upcoming venture on the public stock market, according to a report in The New York Times. The Nasdaq, a tech-heavy index often viewed as a working proxy for the tech industry, is off 19 percent from its 52-week highs. And cloud-focused stocks as a whole have given up extensive value in recent trading sessions. When it does go public, Wall Street will have to adjust to a reality that Dropbox insiders. This is a huge improvement from a net loss of 326 million, or 1.18 per share, two years ago. ![]() High-flying technology companies like Apple, Amazon, and Facebook have seen their values erode as well. It is looking to raise 648 million at a valuation of about 7.4 billion, according to a filing Monday. In 2017, Dropbox lost 112 million, or 0.38 per share, on its income statement. Of course, Dropbox is not alone in seeing its value retreat in recent weeks. The San Francisco-based cloud storage and business productivity tool maker, which had secretly filed to go public in January, plans to raise 500 million. It trades for $20.70 at the time of writing. Dropbox IPOd in March 2018, going public at 21 per share and opening at 29. The company went public at $21 per share and opened at $29. Today Dropbox, the popular cloud storage and productivity company, saw its shares’ value fall under their IPO value. DROPBOX STOCK GOING PUBLIC HOW TOFreelance Writers: How To Pitch Crunchbase News. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |