What's Up With The Volatile Ride In Focus Universal Stock Today?

by Anusuya Lahiri, Benzinga Editor

September 2, 2021 2:43 PM | 1 min read |

Focus Universal Inc FCUV trading had to be halted five times on circuit breaker while up 41%, 64%, 85%, 108%, and 91%, following its August 31 IPO.

The Internet of Things (IoT) and 5G technology provider priced its IPO at $5 per share reached the highest closing price of $24.48. It reached a market cap of $789.7 million at present.

The stock price momentum reflects the demand surge for IoT and 5G as enterprises opt for cloud migration and digital transformation, demand for electric vehicles and electronic gadgets, further fueled by the pandemic.

Post the trading halt, the stock has given up all its gains on profit-booking and is trading in the red.

Price Action: FCUV shares traded lower by 7.99% at $17.74 in the market session on the last check Thursday.

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