Rackspace Technology Inc. shares rallied Monday following a report that Amazon.com Inc. was in early talks to invest in the cloud-technology services company. Rackspace shares jumped as much as 19% in early trading and were last up 11% at $18.44. On Monday, Reuters reported that Amazon was looking to acquire a minority stake in Rackspace. The company re-emerged as a publicly traded one earlier in the month and shares dropped 22% on their first day. Rackspace is 65% owned by Apollo Global Management Inc. , which acquired the company for $4.3 billion back in 2016.. Apollo shares were last up 2.5% at $48.55. Read More...
Rackspace Technology Inc. shares rallied Monday following a report that Amazon.com Inc. was in early talks to invest in the cloud-technology services company. Rackspace shares jumped as much as 19% in early trading and were last up 11% at $18.44. On Monday, Reuters reported that Amazon was looking to acquire a minority stake in Rackspace. The company re-emerged as a publicly traded one earlier in the month and shares dropped 22% on their first day. Rackspace is 65% owned by Apollo Global Management Inc. , which acquired the company for $4.3 billion back in 2016.. Apollo shares were last up 2.5% at $48.55.
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