EFCU CEO Says He Will Not Reopen After Losing $1 Billion
EFCUs stock is up nearly 1,000% this year, which is the fastest pace in the S&P 500’s 100-year history.
That is a record for a stock.
The company’s stock has more than doubled since its July 2011 stock price of $13.30 per share, according to FactSet.
Its total return has increased from 2.3% to nearly 6%.
The stock is trading at a discount to the index’s 10-year average, which was just under 1%.
In the past year, the S+P 500 index has been down nearly 20%.
The shares are now trading at just above $12.25 per share.
This is a huge upside for EFCUS stock as it has been trading at near-record highs for the past three years.
Investors are looking for better returns and the company is offering a great value for money.
EFCUNS CEO Robert Koehn, however, has said he will not take back the company’s investment, which amounted to about $1 billion.EFCUS has made great progress in its effort to compete with Amazon.com Inc. in the cloud computing market.
Last month, the company surpassed the $10 billion mark, thanks to a $20 million cash injection from Google Ventures.
EfcUs is also growing in cloud computing revenue.
The firm said last month that it is expanding its cloud computing services to include the $3 billion acquisition of EFCURS, a cloud computing platform provider.