McAfee Reenters Stock Market with IPO of $20

McAfee Inc, the software company best known for their firewall program, reentered public domain with an IPO of $20 on Wednesday. With an initial stock projection price of about $19-$22, its IPO fell on the lower end of initial estimation.

The stock had fallen to $18.86 by the time it opened Thursday, at noon. Since then, it's price has fluctuated wildly, dipping almost to $17. It ended the day almost recovering back to $18.66.

With the sale of its 37 million shares, however, the company still managed to raise $750 million dollars. Of these profits, plans are to use most of it towards paying its $4.8 billion debt.

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About McAfee

McAfee Inc. is a cybersecurity company specializing in online prote...

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