Cloudera Inc

Cloudera agreed to an acquisition deal to take the public company private. The purchase price is similar to its IPO price easing the company’s market struggles.

On Tuesday, Cloudera (NYSE:CLDR) stock rose 18.7% and closed at $12.00. The shares rose after reports that the company might sell its business.

On Monday, Cloudera (NYSE:CLDR) stock rose 6.9% and closed at $10.96. The stock was trading 10.3% below its 52-week high of $12.22.

On Tuesday, Cloudera (NYSE:CLDR) stock rose 7.83% and closed at $7.85. Based on the last closing price, the company has a market cap of $2.25 billion.

Cloudera announced its earnings for the third quarter of fiscal 2020 on Thursday after the market close. The company reported revenues of $198.3 million.

On November 14, Carl Icahn’s Icahn Capital Management filed its form 13F. In the third quarter, it included two new stocks.

Investors are cautious about an upcoming slowdown. As expected, tech stocks like Cisco, Shopify, Alteryx, and others have led the sell-off.

Cloudera (CLDR) stock has been pummeled since its IPO in April 2017 at $18.10. The stock rose to $22.03 in May 2017 but has since fallen to $6.50.

Yesterday, Carl Icahn revealed his 12.6% stake in data analytics company Cloudera (CLDR), causing its shares to jump.