Shares of the cybersecurity company, listed under the ticker "SCWX," opened lower at $13.89, but quickly recovered, last trading slightly higher above $14 on a day the Nasdaq traded down 1 percent. This is the first initial public offering (IPO) of a U.S. technology company in 2016.

SecureWorks ' stock whipsawed Friday on its first day of trading as a public company.

SecureWorks priced at $14 a share Thursday night, below the expected range of between $15.50 and $17.50, sources told Reuters. The firm, formerly owned by Dell, is going public at a time when other technology firms are increasingly favoring the private market.



Only 51 IPOs priced in the second half of 2015, the smallest batch since 2012, according to Proskauer's Capital Market Group 2016 IPO study. The annual aggregate deal value of $30.1 billion was the lowest since 2009, with companies seeing "down rounds" and fewer "mega IPOs," the report found.

This time last year, six technology companies had already priced their IPOs, raising a total of $1.6 billion, according to Thomson Reuters data.



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