STOR is No More

I don’t know how many of you followed StorageNetworks (STOR), but it was one of those red-hot IPOs from the bubble days. It was on all of those hot company lists (the likes of Red Herring and Upside). The story was so compelling that the stock price shot over $150/share shortly after the IPO. Given the post-bubble waxing the tech sector has suffered, I wasn’t surprised to see STOR drop to sub $1 levels. But this news did make my jaw drop: StorageNetworks to liquidate, fires most workers. It never ceases to amaze me just how nutty things were back in the bubble days. I would have never thought this company would just disappear in a couple of years. Interesting times…