Bulletin
Investor Alert

Market Pulse Archives

March 26, 2021, 2:41 p.m. EDT

Zhihu stock opens down 15%, then keeps falling to online content company below $4 billion

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Zhihu Inc. ADR (ZH)
  • X
    Renaissance IPO ETF (IPO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Zhihu Inc.'s stock /zigman2/quotes/225646145/composite ZH +1.49% got a cool reception on Wall Street Friday, as the China-based online content company's stock opened 15.3% below its initial public offering price. The stock's first trade was at $8.05 at 1:37 p.m. Eastern for 3.04 million shares. The company had said before the open that the IPO priced at $9.50, which was at the bottom of the expected range of between $9.50 to $11.50 a share, as the company sold 55 million American depositary shares to raise $522.5 million. The stock has extended losses since the open to trade down 26.6% at $6.97, which values the company at about $3.9 billion. Zhihu went public on a day that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +1.22% dropped 1.5% in afternoon trading while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.74% tacked on 0.5%.

/zigman2/quotes/225646145/composite
US : U.S.: NYSE
$ 8.15
+0.12 +1.49%
Volume: 1.74M
May 7, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.64 billion
Rev. per Employee
$118,660
loading...
/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 56.21
+0.68 +1.22%
Volume: 668,025
May 7, 2021 4:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,232.60
+30.98 +0.74%
Volume: 2.05B
May 7, 2021 5:15p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.