Atlassian had a terrible Friday on the NASDAQ, down 6%, with shares closing at a new low of $US25.19 and trading as low as $US24.52 throughout the day.
This is down from the $US27.78 the Australian tech company begun trading at early last month and its highest mark of $US31.10 on December 29.
The fall was part of a broad sell-off of US-listed tech stocks as the Nasdaq closed down 2.7% for the session. It’s still trading well above the $US21 price in the initial offer before the company started trading publicly.
Share prices could fluctuate again on Wednesday when Atlassian’s quiet period ends, enabling it to make announcements about the company for the first time since the IPO.