Ruckus Wireless IPO Prices High, But Stock Slips
Ruckus Wireless (RKUS) priced its IPO atop its expected range, but shares were down 3% in early trading Friday. Ruckus raised $126 million late Thursday by pricing 8.4 million shares at 15 apiece, the high end of the range it set last week. As IBD reported earlier this week, Ruckus came to market with strong fundamentals and an innovative Wi-Fi technology designed to keep the signals clear in high-density areas with overlapping Internet providers.
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