THE STREET: Tech’s Top IPOs of 2011

Fusion-io(FIO_)

Fusion-io, which makes products that improve data center efficiency, scored big in its June IPO.

The company, whose biggest customer is Facebook, priced its offering at $19, north of its projected range of $16 to $18 a share.

Shares closed Friday at $29.33.

In its most recently quarter, ended in September, the company reported revenue of $75 million, almost double its sales from the same period last year.

Earlier in November, Fusion-io said it will offer 3 millioncommon shares as part of a secondary offering.

In a previous article, Jonas Elmerraji pointed to Fusion-io’s potential to get squeezed higher due to its short interest, writing that the company “has been generating consistent growth and admirable profitability in the last few years — and its offering left it with a massive hoard of cash and no debt. The huge percentage of FIO’s equity float that’s currently short provides an excellentcatalyst for a meaningful short squeeze.”

READ THE ARTICLE HERE:  Tech Top IPOs of 2011

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