The long-awaited IPO for DDI (DNS, DHCP and IP Address Management) finally happened and, like Splunk the day before it, BLOX rocked. It opened at $16 and got as high as $23 and change during the trading day, settling in nicely at just under $21 per share.
It’s nice to see tech IPOs back and doing well. A few people have asked me if I thought this IPO was sustainable, and my answer each time was an emphatic “YES,” for the following reasons.
First, despite some of the recent tech misses this quarter, technology is on the upswing. I think the recent quarterly misses were more due to internal execution problems than a weak macro. So a good tech market will itself fuel more interest.