BLZE - Backblaze rises 25% sending cloud firm's stock up 70% in just three sessions since IPO

Backblaze (NASDAQ:BLZE) is on fire for a third straight session since its IPO last week, up some some 25% Monday and roughly 70% since the cloud-storage firm went public last week. BLZE rose as much as 29.7% to $28.59 before pulling back to change hands at $26.92 shortly before 3:30 p.m. ET, ahead 22.2% on the day and 68.3% since the stock went public at $16 a share last Thursday. Backblaze (BLZE) was rising on no apparent news other than continued enthusiasm for its initial public offering. The stock popped 24.4% last Thursday in its first trading session, then added another 10.8% Friday and extended its rally to a third day on Monday. BLZE provides both business and consumer clients with subscription cloud-based computer storage and backup services. The company competes with the likes of S3 service from Amazon (NASDAQ:AMZN), Azure from Microsoft (NASDAQ:MSFT) and Google Cloud from Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL).

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Backblaze rises 25%, sending cloud firm’s stock up 70% in just three sessions since IPO