So Rackspace(RAX) went public in August 2008 and then when they could no longer compete against AWS and Google in the cloud provider space they spent years seek

So Rackspace(RAX) went public in August 2008 and then when they could no longer compete against AWS and Google in the cloud provider space they spent years seeking someone to acquire them, which Apollo Global Management did in 2016 for $32.00 a share and took them private[1]. They then laid off a substantial portion of their workforce and decided to become an IT shop to provide support for customers who are using the cloud providers that put them out of business. And now their re-listing for $12.00 a share? Why would anybody buy this? What is the play here? Is Apollo somehow making out here? [1] https://www.rackspace.com/newsroom/affiliates-of-funds-affiliated-with-apollo-global-management-private-company https://www.rackspace.com/newsroom/affiliates-of-funds-affil...