Tuesday marked the first day that the recent IPO managed to close higher. After a $9.00 pricing, shares closed each day as follows: $8.36; $8.19; $7.32; and finally yesterday’s close was $7.29. Tuesday’s close was up about 3.8% at $7.57 but this was actually the lightest day of trading volume at only 420,000 shares traded. The other lowest day was yesterday at 550,000 shares.
LifeLock has a promising business model that covers a very promising opportunity as there are millions upon millions of consumers who are worried about identity theft. This global pandemic of identity theft can ruin lives and in many cases it is the theft that can keep on stealing. After a drop of close to 20%, it seems that the selling pressure from those were allocated shares may have finally abated. Maybe some investors are even starting to bet that LifeLock shares have gotten cheap.
JON C. OGG
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