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April 7, 2021, 2:21 p.m. EDT

UTime stock more than doubles, and is now 2,175% above its IPO price

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By Tomi Kilgore

Shares of UTime Ltd. /zigman2/quotes/225805877/composite UTME +1.91% soared 133.3% in very volatile afternoon trading Wednesday, enough to pace all gainers on major U.S. exchanges, in the China-based mobile phone maker's second day of trading on the Nasdaq. On Tuesday, the stock closed at $39, or 875% above its $4 initial public offering price, which was at the low end of the expected range of between $4 and $5 a share. The company sold 3.75 million shares in the IPO to raise $15 million. With the stock now trading nearly 23 times the IPO price, the company's current market value was $752.4 million, up from $33.1 million at the IPO price. The stock has been halted nine times for volatility so far on Wednesday, after being halted 14 times for volatility on Tuesday. The company recorded a net loss of RMB21.7 million ($3.1 million) on revenue of RMB193.1 million ($27.3 million) in 2020, after a loss of RMB11.9 million on revenue of RMB238.1 million in 2019. The company went public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +3.23% has lost 4.7% over the past three months, while the iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI +0.43% has slipped 1.4% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.76% has gained 7.3%.

US : U.S.: Nasdaq
$ 39.94
+0.75 +1.91%
Volume: 4,962
May 7, 2021 10:01a
P/E Ratio
Dividend Yield
Market Cap
$324.01 million
Rev. per Employee
US : U.S.: NYSE Arca
$ 57.33
+1.80 +3.23%
Volume: 100,899
May 7, 2021 10:15a
US : U.S.: Nasdaq
$ 81.20
+0.35 +0.43%
Volume: 395,654
May 7, 2021 10:16a
+31.92 +0.76%
Volume: 381.37M
May 7, 2021 10:17a

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