Rackspace Hosting Down 7% On Heavy Volume (RAX)

Rackspace Hosting, Inc. RAX shares are down sharply today, down over 7% on heavy volume, as the broad markets are dropping sharply. At last check, shares of Rackspace Hosting were off $3.21 to $41.52, a loss of 7.2% on 2.4 million shares. Rackspace Hosting, Inc. operates in the hosting and cloud computing industry. It provides information technology (IT) as a service, managing Web-based IT systems for small and medium-sized businesses, as well as large enterprises worldwide.