Palo Alto Networks Surges Up 31% After IPO
The Kayak.com IPO is not the only one that is going well today. Palo Networks has opened up their IPO trading by surging 31% from their already boosted range of trading. Palo Alto Networks, a network security systems company, started trading at $55.15 on Friday and has climbed up to $56.40. The offering price was at $42 as of late Thursday, which was above their expected range of between $38-$40. The initial range was set at $34-$37 per share. Palo Alto Networks is trading on the New York Stock Exchange under the symbol PANW. They sold around 6.2 million shares.