Microsoft-backed Rubrik’s stock jumps nearly 21% in NYSE debut

Rubrik’s shares rose nearly 21% in their debut on the New York Stock Exchange on Thursday, giving the Microsoft-backed cybersecurity firm a valuation of $6.77 billion.

The startup joins a list of companies that have seen strong debuts recently as initial public offerings bounce back on hopes of a soft landing for the economy, where inflation falls without a recession or big job losses.