SAN FRANCISCO (CBS/AP) – Shares of software company Splunk have nearly doubled in their first day of trading.
The shares were priced at $17 and opened at $32 on the Nasdaq.READ MORE: Oakland City Council Votes to Defund Police, Stripping More Than $17M from Department Budget
By midday, they were up $15.33, or 90 percent, trading at $32.33.
San Francisco-based Splunk’s products help companies collect and analyze internal data.READ MORE: 165 Pounds Of Fireworks Seized, Man Arrested In Oakland Crackdown
The company says it had more than 3,300 customers as of the end of October, including Bank of America, Comcast and online game maker Zynga.
Splunk plans to use the offering’s proceeds to invest in itself, for general business purposes and possibly to buy other businesses or products.
Splunk trades under the ticker symbol “SPLK.”MORE NEWS: Menlo Park Fire Chief: Time Is Short in Search for Survivors of Florida Condo Collapse
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