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Ruckus (RKUS - $10.37) came public in November of 2012 at $15/share which was the high end of their filing range. The sought-after duo of Goldman Sachs and Morgan Stanley brought the deal. The stock "popped' to $24/share on general enthusiasm and has steadily declined to the current price since then. [Clients can refer to the Ruckus IPO roadshow slides for more background.]

Ruckus makes WiFi networking technology. Their niche is denser "carrier class" solutions. Much has been made of the "data explosion" and the need for wireless networks . . .

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