What's Going On With Prestige Wealth (PWM) Stock?

Prestige Wealth, Inc. PWM shares are ripping higher on Monday. The stock has gained more than 240% since launching its initial public offering on July 6.

What To Know:

Shares of PWM have resumed normal trading after being halted to the upside and are now trading more than 45% higher in Monday's session.

PWM launched its initial public offering (IPO) of 1,000,000 ordinary shares at a price of $5.00 per ordinary share on July 6. Prestige intends to use the proceeds from the IPO for brand promotion, the expansion of products and services, additional client relationship management and employees as well as general working capital.

Prestige is a wealth and asset management services provider based in Hong Kong focused on mainly high net worth and ultra-high net worth individuals.

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PWM Price Action: According to Benzinga Pro, Prestige Wealth shares are trading 52% higher at $17.80 at the time of publication.

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