Here's How Bullfrog AI Hldgs Has Performed Since Its IPO

Bullfrog AI Hldgs BFRG opened up its shares for public trading for the first time since it filed for IPO in October 2022. The company agreed to initially offer 1.30 million shares to the public at $6.50 per share. On its first day of trading, the stock fell 10.19% from its opening price of $5.3 to its closing price of $4.76.

Bullfrog AI Hldgs Performance On First Day of Trading

About Bullfrog AI Hldgs and It's IPO

BullFrog AI is a digital technology company using machine learning to usher in a new era of precision medicine. Through its collaborations with leading research institutions, including Johns Hopkins University, and others, BullFrog AI is at the forefront of AI-driven drug development.

For its IPO, BFRG agreed to offer 1.30 million shares at a price of $6.50 per share, with an insider lock-up period of 180 days, ending on August 13, 2023.

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.