Security Firm FireEye Stock Surges on IPO Debut

Security Firm FireEye Stock Surges on IPO Debut

Security company FireEye stock has listed on stock exchange with massive gain. The stock of cyber security software company witnessed high demand from investors in secondary market and touched high of $44.89. At 12.22 PM EDT, 11.09 million shares changed hands and stock was trading at $40.

FireEye provides solution to businesses for protection against malicious software. The company is headed by David DeWalt. The company registered higher revenue in 2012 at $83.3 million. The net loss remained at $35.8 million in 2012. The stock trades on Nasdaq under symbol “FEYE”.

DeWalt resigned as president of McAcfee after the company was acquired by Intel. Intel paid $7.7 billion to acquire antivirus maker McAfee. The company is backed by Sequoia Capital, Norwest Partners and DAG Venture Equities.

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