Carbonite (CARB) Joins Talkin’ Cloud Stocks Index
Carbonite (CARB), the online backup and cloud storage specialist, has joined the Talkin’ Cloud Stocks Index, which tracks 20 publicly held cloud computing companies. Carbonite replaces Blackboard, which was delisted from the NASDQ, as planned, following Providence Equity Partners’ buyout of Blackboard.
Carbonite joins the Talkin’ Cloud Stocks Index during a highly volatile time for cloud computing stocks. The Talkin’ Cloud Stocks index rose 3.44 percent for the week ending Oct. 7. And most close stocks rallied again on Oct. 10, as Wall Street celebrated some decent debt news from Europe.
Still, the Talkin’ Cloud Stocks Index declined 1.87 percent from the start of 2011 through Oct. 7. Not even cloud computing companies are immune to debt concerns and recession fears that have undermined Wall Street for most of 2011.
Carbonite, meantime, claims to serve more than 1.1 million subscribers in over 100 countries, backing up more than 200 million files each day. Carbonite announced an expanded cloud storage strategy for consumers in September.
Carbonite Inc. (NASDAQ: CARB), a leading provider of online backup solutions for consumers and small and medium sized businesses, announced plans to offer additional solutions for its consumer customers, which will include new features and expanded functionality.
Carbonite went public in August 2011 at $10 a share, which was well below earlier expectations, notes Forbes.com. But by mid September 2011, Forbes added, many Wall Street firms were upgrading Carbonite’s stock due to the cloud’s growing acceptance.
As a reminder: Talkin’ Cloud does not make buy, sell or hold recommendations on cloud computing stocks. Rather, the Talkin’ Cloud Stocks Index is designed to help cloud service providers and channel partners track the relative health of the cloud computing market.