Accelevation Holdings IPO prices at $18, below range, and falls to about $15
Overview
Accelevation Holdings priced its initial public offering at $18 per share on Sept. 29, below its proposed range.
The stock debuted the next day and closed at $17.95, then fell to just over $15 in the following weeks, according to CNBC. The company makes and installs electric and cooling equipment inside data centers.
CNBC's Jim Cramer says investors should hold off on the stock. He cites political opposition to data centers ahead of the midterm elections and competition from established players Vertiv and Eaton.
Written by AI from the articles below · updated Oct 13, 7:30 PM ET
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Article timeline
The articles in this story. Times are ET.
- CNBC · TechnologyNewsJim Cramer advises waiting on newly public AI infrastructure stock Accelevation Holdings
AICNBC's Jim Cramer says investors should hold off on Accelevation Holdings, a newly public company that makes and installs electric and cooling equipment for data centers. Accelevation priced its offering at $18 per share on Sept. 29, and the stock has since fallen to just over $15. Cramer cites political opposition to data centers before the midterm elections and competition from established players such as Vertiv and Eaton.
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