Rackspace (RAX) volatility elevated as shares traded lower on results

Rackspace (NYSE: RAX) is recently down $8.65 to $49.15 in the premarket on less than expected earnings and a cautious customer addition outlook. Goldman Sachs say’s “Dip in installed base growth slows topline.” Overall option implied volatility of 50 is above its 26-week average of 45 according to Track Data.

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