San Francisco-Based Splunk Shares Nearly Double In Debut
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.
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.
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."
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