Year to Date Review of Cloud Based Stocks
As of November 1st 2013, there are several cloud based stocks that have surprised investors both positively and negatively. Based on data provided by Forbes, the best performing cloud stock year to date is NetSuite with a positive change of 46.63%. NetSuite trades with the letter “N” on the New York Stock Exchange. NetSuite is a 1,700 employee company that was founded by tech legend Larry Ellison back in 1998. The company is headquartered in San Mateo, California and NetSuite has become a leader in the cloud market by offering Software as a Service to large corporate clients all across the globe.
On the flip side, the worst performing cloud technology stock year to date is Fusion-IO. Fusion-IO is listed on the New York Stock Exchange as well, trading under the signal of FIO. Unfortunately for shareholders of Fusion-IO, the stock has seen a rapid decline this year with the stock losing 52.42% of its value. Additionally, Fusion-IO has recently lost their Chief Financial Officer back in October as the company strives to get back onto the positive track. The company was started in 2005 by Rick White and David Flynn, and is based near Salt Lake City, Utah.
While there may be stocks that fluctuate wildly in value, one cloud based stock that has stood relatively steady over the past year is Citrix. Citrix trades as CTXS on the New York Stock Exchange and even though the company’s stock has lost 13% this year, it is trading near its 52 week low and the stock has been relatively steady at this price. Another cloud stock that has been steady this year is Juniper Networks. Juniper trades as JNPR also on the New York Stock Exchange and the year to date change has been negative 6 percent. Forbes has a complete breakdown on the movers and shakers in the cloud industry found in this chart.
