Unity Software, Sumo Logic, Redfin: Midday Tech Stock MoversSeptember 20, 2020
Stocks fell on Friday amid continuing economic uncertainty and signs of a new spike in coronavirus infections, with tech leading market declines.
Here are some of the top tech movers for Friday, Sept. 18.
Shares of Unity , a software platform for game development, soared in their first day of trading on Friday. The stock gained 32% to $68.80 from its initial offering price of $52 a share. Unity’s initial public offering raised $1.3 billion after the 25 million offered shares were priced at the top of the expected range. The stock’s trading price at last check values Unity at roughly $14 billion.
Shares of Sumo Logic , a data analytics software company that went public Thursday, dropped 4.9% to $25.57 on their second day of trading. Sumo Logic’s stock gained 22% over its initial asking price of $22 a share on Thursday, and the company raised $326 million in the public offering.
Shares of Redfin , an online platform for home sales, fell 7.8% to $45.61 on Friday, extending a slide over the past three trading sessions. Analysts have a mixed view on Redfin shares, with five of 14 analysts in FactSet listing a buy Rating, eight hold ratings, and one sell rating, with an average price target of $43 a share.
Shares of Eventbrite fell 4.6% to $11.19 on Friday. Earlier this week, the events and ticketing site, reported gradual improvement in paid ticketing month over month. Paid ticket volumes increased 17% in August compared to July, on top of a 25% increase in July compared to June, though paid ticketing was still down 65% on a year-over-year basis in August.
Shares of Roku fell 4% on Friday to $158.14. Comcast’s NBCUniversal said Friday that it will pull its apps from Roku devices starting this weekend over an ongoing dispute over the terms of carrying Peacock, Comcast’s recently launched streaming service, on Roku devices.
This article was originally published by TheStreet.