Tech IPO Atlassian Rockets Higher in First Day of Trading

Workplace software company Atlassian rocketed higher in its first day of trading on the Nasdaq, in what had been a lackluster year for technology IPOs. The stock was priced at $21, above its expected range, and moved sharply higher once trading began. Unlike some technology companies that test the public waters, Atlassian has a track record of making money. The company has been profitable for the past ten years, and reported a 49% jump in revenue in the last fiscal year. ‘We have had no problems growing and selling around the world,’ said Scott Farquhar, one of the company’s co-CEOs. Atlassian’s software products include HipChat, Bitbucket and JIRA.