Lucid Diagnostics stock opens about 9% below the IPO price, and keeps falling

1 week ago 7

Lucid Diagnostics Inc. LUCD, -17.57% was jeered successful its nationalist debut, arsenic the New York-based aesculapian diagnostics exertion company's banal opened connected the Nasdaq 8.9% beneath its archetypal nationalist offering price, and kept falling. The institution raised $70.0 million, arsenic it sold 5.0 cardinal shares successful its IPO, which priced overnight astatine $14 a share, astatine the bottommost of the expected range of betwixt $14 and $16 a share. The stock's archetypal commercialized was astatine $12.75 astatine 11:03 a.m. Eastern for 365,210 shares. With astir 37 cardinal shares outstanding aft the IPO, the archetypal trading terms valued the institution astatine astir $471.65 million. The banal has dropped further since, and was precocious trading down 22.1% astatine $10.91. The stock's anemic opening comes connected a time of comparatively beardown capitalist involvement successful IPOs, arsenic the Renaissance IPO ETF IPO, +1.64% rallied 2.0% successful midday trading portion the S&P 500 SPX, +1.68% gained 1.6%.

Read Entire Article