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Why N-able Stock Tumbled 12.6% in Its Market Debut

TheMotleyFool

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Why N-able Stock Tumbled 12.6% in Its Market Debut

Shares of N-able (NYSE:NABL) were down 12.6% Tuesday afternoon as of 12:15 p.m. EDT, according to data from S&P Global Market Intelligence. The cloud-based IT service software company completed its spinoff from SolarWinds (NYSE: SWI), the tech-management company at the heart of a massive security breach that was revealed last December.

SolarWinds shareholders of record on July 12, 2021 each received one share of N-able, adjusting for the more than 41% drop in SolarWinds share price on Tuesday.

Image source: Getty Images.

Source Fool.com

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