Rackspace Bid Highlights Need for Cloud Security: Chart of the Day
Rackspace shares have been on a roller-coaster ride, but the stock is breakeven.
Rackspace stock had a tough 2013, watching shares tumble more than 30 percent on public markets, despite talk of a takeover. This year, shares have been on a roller-coaster ride, but the stock is breakeven, even after rumors of potential PE bidders again bumped the stock up. Earlier this year, the company announced it hired Morgan Stanley to field M&A bids, and it recently was reported that communications company CenturyLink could buy it for around $5.5 billion dollars. With cloud security in focus for so many U.S. consumers, Rackspace is the chart of the day -- but is it also worth an M&A premium?
