Shares in cybersecurity firm FireEye more than doubled in their trading debut on Friday following their initial public offering as investors rushed to snap up shares in the fast-growing company that helps businesses fend off hackers. Shares of advertisement tech company Rocket Fuel also more than doubled in its debut, valuing the company at more than $2 billion, a day after it priced its IPO at the top end of its revised price range.
FireEye shares jumped to $43.10 as they opened trading on Nasdaq. The company sold some 15.2 million shares at $20 per share, above its proposed price range.
FireEye's revenue jumped nearly seven times to $83.3 million between 2010 and 2012, while its net losses widened to $35.8 million from $9.5 million during the same period.
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