Shares of Zscaler Inc. are down 17.6% in their second day of trading Monday, after more than doubling on Friday. Zscaler’s initial public offering priced at $16, and the stock closed at $33 on Friday. Fellow unicorn Dropbox Inc. is expected to go public as well later this week. Though much of the tech sector is down in Monday trading due to concerns about Facebook Inc. , the far sharper decline in Zscaler’s stock price speaks to the volatility of recent IPOs. The cloud-based security company has seen 5.1 million shares trade hands in Monday’s session. Shares of other relatively recent big tech IPOs are down sharply during the session as well, with Stitch Fix Inc.’s stock off 6.5% and Roku Inc.’s stock down 6.9%. The S&P 500 has fallen 1.7% and the Nasdaq Composite Index is off 2.2%.
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