Switch closes below its IPO price
Switch data center near South Decatur Boulevard and West Warm Springs Road in Las Vegas is seen on Tuesday, April 21, 2015. (Erik Verduzco/Las Vegas Review-Journal) Follow Erik Verduzco on Twitter @Erik_Verduzco
Shares of Switch Inc. closed below its IPO price on Friday, down 42 cents or 2.45 percent to $16.71, according to Google Finance.
The Las Vegas-based company priced the IPO at $17 a share, higher than its expected range of $14 to $16 target, and sold at least 31.25 million shares.
Investors sent data technology infrastructure company Switch Inc. stock up 21.9 percent in its first day of trading Oct. 6.
Switch is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems.
Rob Roy is founder, chairman of the board, and chief executive officer of the company.
