What In The World Is Going On With Multi Ways Holdings (MWG) Stock Falling 60%

Multi Ways Holdings Ltd MWG shares are trading lower by some Friday afternoon. The stock is falling on heavy volume as of 12:40pm EDT despite a lack of company-specific news.

So What's Up?

Multi Ways Holdings this month began trading on the NYSE American on April 3 and shares have seen marked volatility throughout the month. Amid post-IPO volatility, the stock has seen a high of $16.33 and a low of $3.00 in April.

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Multi Ways Holdings this month priced its initial public offering of 7,240,000 ordinary shares at a public offering price of $2.50 per share.

Multi Ways offered 6,040,000 ordinary shares, and a certain selling shareholder offered 1,200,000 ordinary shares.

The company is a supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region.

According to data from Benzinga Pro, MWG has a 52-week high of $16.33 and a 52-week low of $3.00.