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May 18, 2021, 2:12 p.m. EDT

Jiuzi stock rockets past IPO price in very volatile trading

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By Tomi Kilgore

Jiuzi Holdings Inc. /zigman2/quotes/226848404/composite JZXN -2.13% blasted off in its public debut Tuesday, as the China-based new-energy vehicle retailer's stock opened nine-times what the upsized initial public offering priced at, before paring some gains in very volatile trading. The company raised $26.0 million as it sold 5.2 million shares in its IPO, which priced at $5, compared with previous expectations for the company to sell 5.0 million shares between $4 and $6 a share. Boustead Securities was the IPO's underwriter. The stock's first trade on the Nasdaq was at $45.00 at 12:51 p.m. Eastern for 9,400 shares, or 800% above its IPO price, to value the company at $100.0 million. The stock has pulled back since the open, to trade recently up 422.0% at $26.10. It has been halted five times for volatility since it opened. The company had recorded net income of $349,061 on revenue of $1,277,236 for the six months ended April 30, after income of $1,794,387 on revenue of $4,106,397 in the same-period a year ago. The stock's big rally comes on a day that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -1.03% rose 2.1% in afternoon trading while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.97% slipped 0.1%.

US : U.S.: Nasdaq
$ 1.38
-0.03 -2.13%
Volume: 160,208
Jan. 19, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$30.21 million
Rev. per Employee
US : U.S.: NYSE Arca
$ 47.23
-0.49 -1.03%
Volume: 131,739
Jan. 19, 2022 4:10p
-44.35 -0.97%
Volume: 2.48B
Jan. 19, 2022 4:58p

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