Backblaze (NASDAQ: BLZE) fired up investors for the fourth straight session on Tuesday, with the cloud-storage firm’s stock rising 23.5% on the day and closing almost 100% above a $16 IPO price set just last Thursday.Backblaze (NASDAQ: BLZE) fired up investors for the fourth straight session on Tuesday, with the cloud-storage firm’s stock rising 23.5 on the day and closing almost 100 above a 16 IPO price. BLZE ended the day at a session high $31.50 and kept rising after hours, changing hands at $33.50 shortly before 6 p.m.That’s up 6.4% in after-hours trading and 109.3% from the stock’s initial public offering price. 500 BEN FRANKLIN CT, SAN MATEO, California, 94401, United States +1 650 352-3738 Backblaze Inc provides cloud storage services. Backblaze ( BLZE) has risen in all four of its trading sessions since going public last week. BLZE offers consumers and businesses subscriptions for cloud-based computer storage and backup.The stock has been on fire on no apparent news other than enthusiasm for its IPO. Cloud-Backup: zuverlässige Datensicherung für Unternehmen. Backblaze said it intends to list on the Nasdaq Global Market under the ticker symbol BLZE. Investors may trade in the Pre-Market (4:00-9:30 a.m. Backblaze intends to raise 100 million in gross proceeds from an IPO of its Class A common stock, offering 6.25 million shares at a proposed midpoint price of 16.00 per share. The company sold 6.3M Class A shares last week at the midpoint of its IPO’s expected $15-$17/share range. Backblaze CEO Gleb Budman, center, celebrated first day of trading on Nasdaq 6,250,000 shares were sold at 16 per share for the 100 million IPO, in the middle of projected range of between 15 and 17 that gave company a valuation of 583 million. ET) and the After Hours Market (4:00-8:00 p.m. What really sets Backblaze apart and will potentially disrupt the industry are the company’s two main cloud services.Participation from Market Makers and ECNs is strictly voluntary and as a result. Cloud backup service Backblaze added 100M to its Nasdaq on Thursday, up 24 from its initial launch and 12 on Friday, after raising 100M in its IPO, giving it a market cap of 650M. However, sparks flew for the stock from its first trading day last Thursday. One is called Backblaze B2 Cloud Storage. Since its initial public offering (IPO) at 16 per share on Nov. BLZE saw its stock rally 24.4% in its first session to close at $19.90, and the stock’s price has only stoked higher from there.īeck Blaze came to the fore this week after generating only 16 million in revenue in the second quarter. Seeking Alpha contributor The Value Investor does a deep dive into BLZE here.Shares have risen 10% to 20% or more in each the company’s first four sessions.
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