Rackspace stock lost almost half of its value after larger companies introduced cheaper cloud alternatives.
The company has recovered by emphasizing how they are a managed cloud service and not competing with these larger companies.
The I Know First algorithm correctly predicted Rackspace stock would rally.
After the stock price’s increase in recent months, the I Know First algorithm predicts that it has peaked and now is the time to sell.
Rackspace Hosting, Inc., (NYSE: RAX) provides cloud computing services and managing Web-based IT systems for small and medium-sized businesses and large enterprises worldwide. Founded in 1998 by three Trinity University classmates, the company is headquartered in San Antonio, Texas, with more than 200,000 customers and $1.5 billion in annual revenue. Rackspace is the largest managed cloud company, with technical expertise and their Fanatical Support team allowing companies to tap the power of the cloud without the pain of hiring experts in dozens of complex technologies. After being a technology stalwart in early years, the company's stock struggled before recently rallying. However, the stock might have reached its peak, and now could be the perfect time to sell.
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introduced cheaper cloud alternatives.
