Zhihu stock opens down 15%, then keeps falling to online content company below $4 billion
Zhihu Inc.'s stock got a cool reception on Wall Street Friday, as the China-based online content company's stock opened 15.3
Zhihu Inc's. stock got a cool gathering on Wall Street Friday, as the China-based online substance organization's stock opened 15.3% underneath its first sale of stock cost. The stock's first exchange was at $8.05 at 1:37 p.m. Eastern for 3.04 million offers. The organization had said before the open that the IPO valued at $9.50, which was at the lower part of the normal scope of between $9.50 to $11.50 an offer, as the organization sold 55 million American depositary offers to raise $522.5 million. The stock has stretched out misfortunes since the open to exchange down 26.6% at $6.97, which esteems the organization at about $3.9 billion. Zhihu opened up to the world on a day that the Renaissance IPO ETF dropped 1.5% in evening time exchanging while the S&P 500 attached 0.5%.