Pheton Holdings Shared Opened For Trade At $3.76/Share; IPO Priced At $4/Share On 2.25M Shares
Portfolio Pulse from Benzinga Newsdesk
Pheton Holdings' IPO was priced at $4 per share, but the stock opened for trading at $3.76 per share, indicating a lower-than-expected market reception. The company issued 2.25 million shares.
September 05, 2024 | 3:40 pm
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Pheton Holdings' IPO was priced at $4 per share, but the stock opened at $3.76, suggesting a tepid market response. The company issued 2.25 million shares.
The IPO was priced at $4, but the opening price was lower at $3.76, indicating a weaker demand or market sentiment than anticipated. This could lead to short-term downward pressure on the stock price.
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