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Investor enthusiasm for tech stocks showed continued signs of weakness as Pure Storage (PSTG) opened below its initial public offering price Wednesday morning. The vendor of flash-chip based storage products for the enterprise market priced at 17, the midpoint of its expected range, and opened at 16.74, down 1.5% in the stock market today. It then slipped a bit further to 16.56. The IPO raised $425 million by offering 25 million shares. The lead Scalper1 News
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