Maris-Tech Ltd Stock Increases 4% On First Day of Trading

Maris-Tech Ltd MTEK opened up its shares for public trading for the first time since it filed for IPO in November 2021. The company agreed to initially offer 3.70 million shares to the public at a $4.20 per share. On its first day of trading, the stock increased 4.05% from its opening price of $3.0 to its closing price of $3.12.

Maris-Tech Ltd Performance On First Day of Trading

About Maris-Tech Ltd and It's IPO

Maris-Tech is a B2B provider of intelligent video transmission technology, founded by veterans of the Israel technology sector with extensive electrical engineering and imaging experience.

For its IPO, MTEK agreed to offer 3.70 million shares at a price of $4.20 per share, with an insider lock-up period of 180, ending on August 01, 2022.

An insider lock-up period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares. The insider lock-up period makes sure that the market does not get oversupplied with shares of the company.

Traders may short the stock leading up to the lockup-period expiration date in hopes that the price will fall due to an increase in supply of shares. Retail traders should be watching this stock's short interest as it moves closer to lockup expiration.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.