Shares of Rackspace fell nearly 22% on IPO day, but its CEO explains why he's optimistic about the cloud services company's second shot as a public company (RXT)

Business Insider
By Rosalie ChanAug 5, 2020, 6:04 pm257 pts
Rackspace went public on Wednesday, and its stock fell nearly 22% over the course of the day. Rackspace, founded in 1998, was actually already a public company until taken private in a $4.3 billion equity deal in 2016. It started as a competitor to Amazon Web Services, until pivoting to helping customers make…

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