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Is McAfee Stock Right for Your Portfolio?

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Round two of the McAfee IPO is here. McAfee, an antivirus maker, is returning to the public market two decades after its first IPO and a series of transactions. After the company sold itself to Intel, TPG Capital and Thoma Bravo came on board as investors. In McAfee’s return to the public stock market, the company decided to go back to its original exchange but the stock symbol has changed. 

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McAfee joins the hot 2020 tech IPO party, which includes names like Snowflake, GoodRx, and Palantir, which is the analytics software company cofounded by billionaire investor Peter Thiel and run by Alex Karp.

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McAfee IPO date

McAfee stock will make its debut on the public market on Thursday, Oct.22. The IPO will be McAfee’s second IPO. When the stock lands on the public market, investors will have a chance to purchase a piece of the respected cybersecurity company and the name behind the famous McAfee antivirus brand. 

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Many investors have eagerly awaited the second McAfee IPO for a good reason. McAfee stock gives investors exposure to the lucrative cybersecurity industry. The global cybersecurity market is on track to hit $208 billion in 2023. The market was valued at $150 billion in 2019. McAfee generates more than $2.6 billion in year revenue and the company is profitable, which makes it a rare breed of the tech companies going public in 2020. 

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When was McAfee's first IPO?

McAfee isn't new to the stock market. The first IPO took place in December 1999. In the original debut on the public market, McAfee sold 6.25 million shares at $12 per share and raised $75 million. As with the latest debut, the first McAfee IPO was also priced above the indicated range of $6–$8. McAfee’s first IPO ended a decade later when Intel bought the company in 2010. John McAfee, who founded the antivirus company in 1987, is in prison Spain. Also, the U.S. wants to extradite him over tax evasion issues.

What is McAfee’s stock price?

McAfee priced its stock IPO at $20 per share. The company indicated a pricing range of $19–$22. The pricing above the minimum target suggests good demand for McAfee stock as it returns to the public market for the second time. McAfee sold 31 million shares. Its early investors sold 6.0 million shares, which resulted in the IPO raising $740 million in total.

What is McAfee’s stock symbol?

McAfee’s stock will trade on Nasdaq under the ticker symbol "MCFE." In the company's first IPO, the stock traded on Nasdaq under the ticker symbol "MCAF." After Intel bought McAfee, it decided to sell a majority stake in the business to TPG Capital and Thoma Bravo. However, Intel still retained a substantial holding.

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