Every Datadog Has Its Day
It's not surprising to see Datadog (NASDAQ: DDOG) off to the races after going public on Thursday. The fast-growing provider of cloud monitoring and analytics tools checks off all of the boxes aggressive growth investors like to see in their fence-swinging investments. It only helps that Bloomberg reported -- on the eve of its market debut -- that Cisco (NASDAQ: CSCO) had offered to acquire the company in the weeks leading up to its initial public offering for more than the $7.8 billion that it ultimately priced at on Wednesday night.
Datadog passed on Cisco's bended-knee proposal, obviously. Despite the rough-and-tumble IPO market, Datadog felt that it had better chances for appreciation on its own, and so far, so good. The stock was trading 38% higher heading into the final hour of its first day of trading, pushing its valuation near $11 billion. Better luck next time, Cisco.
Image source: Datadog.
Source Fool.com
