Zinger Key Points
- Waton Financial made its public debut on Tuesday, closing the day at $19.85 per share after pricing its IPO at $4 per share.
- Waton provides a suite of financial services primarily through its wholly-owned subsidiaries in Hong Kong.
- With stocks plunging, steady income is key. Tim Melvin & Ryan Faloona reveal dividend stocks and deep-value plays on April 8. Reserve your spot now.
Waton Financial Ltd WTF shares are trading lower Wednesday, pulling back after rallying nearly 400% following the company’s IPO this week.
What Happened: Waton Financial shares are giving back some of their massive gains from the company’s first day of trading. Waton made its public debut on Tuesday, closing the day at $19.85 per share after pricing its IPO at $4 per share.
Waton Financial offered approximately 4.38 million ordinary shares in its IPO. The company also offered the underwriters a 45-day window to purchase up to an additional 656,250 shares. If underwriters were to exercise their option in full, Waton would receive approximately $20.13 million in gross proceeds.
Waton provides a suite of financial services, including securities brokerage, asset management and software licensing, primarily through its wholly-owned subsidiaries in Hong Kong.
See Also: CoreWeave Surges 42% In Post-IPO Rally As Nvidia-Backed AI Firm Recovers From Weak Debut
The massive surge in shares on Tuesday came with the stock trending across various social sites. It was still among the top trending tickers on Stocktwits at the time of publication Wednesday, suggesting retail traders are interested in the name.
Waton Financial shares were halted on a circuit breaker to the upside on Tuesday. Shares were halted for volatility to the downside at last check on Wednesday.
WTF Price Action: Waton Financial shares were down 50.1% at $9.90 at the time of publication Wednesday, according to Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
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