Rackspace stocks hits 52-week low after analyst downgrades
Mark Lennihan, STF / Associated Press
The company’s shares opened Tuesday at $4.20 per share and had rallied to about $4.75 by midafternoon.On Sept. 26, Rackspace announced that Amar Maletira, its president and chief financial officer, had replaced Kevin Jones as CEO effective immediately. Jones, who had been CEO since April 2019, was expected to move into a new position with private equity company Apollo Global Management, which is Rackspace’s largest shareholder.
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