Since there are much bigger and more famous companies that offer cloud-based data storage, Backblaze must differentiate itself. Moreover, if BLZE stock crashes down through the $16 IPO price, that would be a sign that the sellers have completely taken control. However, $20 could be a significant technical level if it gets there. It’s still too early to identify a defined range for the stock. Over the next week, BLZE stock backslid somewhat and landed at $26. As the old market saying goes, trees don’t just grow straight to the heavens. 17, the stock peaked at $36.50 before it finally started to cool off. The stock jumped 24% on that first day, and then rose another 12% to $22.31 on the following day. Finally, BLZE stock started trading on the Nasdaq on Nov.
In early November, Backblaze planned to price its public offering between $15 and $17.Ībout a week later, the company set an IPO price of $16. The initial enthusiasm has subsided somewhat, though, so let’s see if we can get a technical reading on BLZE stock.
Still, as we’ll discover, Backblaze has a unique vision and approach to servicing this high-demand niche.Īs for the IPO itself, it was a huge success from the outset. This created a need for bold, disruptive businesses to provide powerful, accessible cloud storage services.īackblaze filled this void but admittedly, it’s not the only cloud-storage company out there. In the wake of the Covid-19 pandemic, some businesses have moved their operations online and, more specifically, into the cloud.
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