Domo plunges after volatile public debut

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Domo, a Utah-based analytics company, saw its stock price fall more than 13 percent Monday morning, following a rocky public debut on Friday.

After bouncing around the board, Domo’s price settled Friday at $27.30 per share, 30 percent above its opening value of $23.80.

Domo opened Monday morning nearly 6 percent lower at $25.43, and is now hovering around $23.

Other tech IPOs this year have proven more successful so far, including Spotify, Dropbox and Zuora.

Domo, once privately valued at over $2 billion, had negative cash flow as of the end of last year and only $71 million in cash as of April, according to its most recent filing. The company is now valued at less than $600 million on the public market.

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