McAfee shares fall in market debut
Shares of security software provider McAfee opened 7 percent down in first-day trading Thursday, marking a disappointing debut.
The company priced shares for its initial public offering at $20 each, on the lower end of its price range of $19 to $22 a share.
The offering reportedly raised around $740 million for McAfee, which began trading on Nasdaq under the ticker symbol MCFE.
It’s a bit of a return to the way things were for the company, which used to be publicly traded. It was bought more than a decade ago by Intel, which later sold a majority stake in 2016 to private equity firm TPG.
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