60 Degrees Stock Up 24.80% Since IPO
Portfolio Pulse from Benzinga Insights
60 Degrees Pharmaceuticals, Inc (NASDAQ:SXTP) recently went public, offering 1.42 million shares at $5.30 per share. On its first day of trading, the stock increased 24.80% from its opening price of $3.75 to its closing price of $4.68. The company has an insider lock-up period of 180 days, ending on January 08, 2024, during which major shareholders cannot sell their shares.
July 13, 2023 | 9:30 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
60 Degrees Pharmaceuticals' stock increased 24.80% on its first day of trading. The company's insider lock-up period ends on January 08, 2024, which could potentially lead to an increase in supply of shares and a decrease in stock price.
The stock's increase on its first day of trading indicates a positive market response. However, the end of the insider lock-up period could lead to an increase in the supply of shares if insiders decide to sell, potentially causing the stock price to decrease.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100