Arlo is said to be a “number one” network connected camera brand, while the company represents another tech company that decided to go public and join the growing number of IPOs mostly offered by tech companies in 2018.
Arlo Technologies was approved for a listing on Nasdaq under the thicker (ARLO) and is one of the rare tech companies filing for IPO at Securities and Exchange Commission without previously having any form of venture capital unlike many other tech companies that filed for IPO.
The value of Arlo IPO was set at 1.16 billion dollars before the initial sale on Nasdaq, having the company raised 163.2 million dollars with opening their initial sale. However, ARLO shares soon went -50% down, keeping up with the lows through December 2018 and beyond.
How is Arlo Technology (ARLO) Doing in the Market in 2019?
The security and video monitoring company arranged a plan for their initial offer where the shares should have been priced at the value between 18$ and 20$, the first sale for Arlo started at the value of 16$, below the initial price.
The company went public on August 2nd under the thicket (ARLO), closing the first trading session above the opening price, trading at 22$.
Ever since August, Arlo shares stayed between the price range of 18$ and 22$ for several weeks until it dropped below the starting price of 16$, now trading at the value 4,14$ way below its opening price.
As Arlo is touching new lows, the shares are still managing to stay above the value of 4$ unlike the case in February when the price of ARLO touched the price around 3$.
Perhaps the falling growth rate revenue during the last quarter of 2018 affected the shares to go down, ever since following downward trends.