The Ruckus Wireless (RKUS) web site on Friday features the statement, "Who Let the Dogs Out? The New York Stock Exchange, That's Who." This declaration is likely a bit more apt than the Sunnyvale, Calif.-based wi-fi equipment maker would like because, after pricing at the high end of its $13-$15 range on Thursday, the company (whose logo is an illustration of a barking canine) had what some would call a dog of a debut as it ventured into the public realm.
Shares of Ruckus ended down 18% from their $15 offering in the midst of a post-election market rout that has seen several other companies withdrawing their initial public offering (IPO) deals (and at least two of them, Radius Health Inc. and Silvercrest Asset Management Group Inc., citing "market conditions" as the reason).
Goldman Sachs (GS), Morgan Stanley (MS) and Deutsche Bank AG's (DB) Deutsche Bank Securities were the lead underwriters in the Ruckus IPO; the company sold 8.4 million shares in a deal initially valued at $126Read More »from Ruckus Tanks in Debut as NYSE ‘Lets the Dogs Out’