Code Rebel, the Maui-based developer of Mac remote desktop software, has seen their stock price slide nearly 50% from their post-IPO highs. The company is still valued at nearly $300 million, however.
The stock had hit an intraday high of $44.21 in early June, but the price has slowly fallen to a close of $24.11 on Monday, July 13. For comparison, both the Nasdaq and Dow indices have been nearly flat since Code Rebel’s IPO, and the Russell 2000 Index of small caps, of which CDRB became a part in late June, has been flat as well.
With no new news posted to their website (the Russell inclusion was found via a web search) since December, 2014 (other than product release notes), and no new social media updates since May, it’s difficult to determine why the stock has fallen or where it will land. What’s more, the SEC-imposed “quiet period” for the company ended on June 29th, and they did announce a reseller agreement in early July, but again, the news was not promoted by the company outside of a wire service listing.
Stock Chart: CDRB