Nutanix: Quiet Before Another Storm
Nutanix Inc (NASDAQ: NTNX) shares are trading higher by $2.42 at $40.51 in Wednesday's session. The software company that sells sells hyper-converged infrastructure appliances debuted last week at $26.50 and ended its first session at $37.00.
The issue has been extremely volatile with ranges of $13.30, $9.28 and calmed down a bit on Wednesday with only a $5.40 range.
The top of the range was made on its second day of trading at $46.78 and the issue found support above its inaugural closing price ($37.00) at $37.50 on Monday and $38 on Tuesday. Buyers have upped their bids in today's session as $39.15 stands as the current low.
Since making that low around 10:00 a.m. ET, the rally has been met with sellers, as the current high ($40.86) is well off Wednesday's high of $43.40.
After a few days of volatile trading, a quiet day of trading can be very informative as buyers and sellers square to determine a fair value the new issue.
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