Tech

Domo plunges after volatile public debut

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Key Points
  • Domo, a Utah-based analytics company, closed 13 percent down on Monday.
  • The data analytics company, once valued at over $2 billion in the private markets, had a rocky IPO on Friday.
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Domo, a Utah-based analytics company, saw its stock price fall 13 percent on Monday, following a on Friday.

After bouncing around the board, Domo’s price settled Friday at $27.30 per share, 30 percent above its opening value of $23.80.

Domo opened Monday morning nearly 6 percent lower at $25.43, and closed at $23.75.

Other tech IPOs this year have proven more successful so far, including Spotify, Dropbox and Zuora.

Domo, once privately valued at over $2 billion, had negative cash flow as of the end of last year and only $71 million in cash as of April, according to its most recent filing. The company is now valued at less than $600 million on the public market.