Cloud backblaze nasdaq ipo 650mnovetcnbc
#CLOUD BACKBLAZE NASDAQ IPO 650MNOVETCNBC SOFTWARE#
Zoom, the video calling software provider that is arguably one of the biggest beneficiaries of the coronavirus pandemic, is part of the index its stock is up 154% for the year. The company has seen greater demand as of late with people wanting to represent themselves online, which led executives to release a "significantly higher outlook for Q2 than we originally expected," according to its first-quarter earnings statement from last week.Ĭompanies have flocked to newer cloud technologies like Twilio for communications and Everbridge for emergency response, and the BVP index has both. One of the top performers of the index in the past month is website builder Wix, which has risen 65%. Investors have been rewarding these companies for their recent gains, but the trend may not continue as people return to school and work.
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When companies, government agencies and schools cannot as easily access their data center equipment for installing or managing software - for example, because of the coronavirus pandemic - cloud services can provide convenient and potentially less expensive alternatives.
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(Large-cap stocks with major cloud-computing operations like Amazon and Microsoft are not included.) The performance has to do with the strength of its constituents: Mostly mid-cap companies that have gone public in the last few years, and that provide specialized cloud services for businesses in areas like human resources, payments or communications.